SILO - Why Silo Pharma Stock Is Down Over 30% | Benzinga
Silo Pharma Inc (NASDAQ:SILO) shares are trading lower by 31% to $1.55 during Wednesday’s session after the company announced it has entered into agreements to sell 917,432 shares of common stock at $2.18 per share in a direct offering.
Additionally, in a private placement, Silo will issue unregistered warrants to purchase the same number of shares at $2.06 per share. These warrants will be immediately exercisable and will expire in five years. The offering is expected to close on June 6, 2024, pending customary conditions.
H.C. Wainwright & Co. is the exclusive placement agent. ...