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PsychedelicNewsBreaks – Silo Pharma Inc. (NASDAQ: SILO) Secures $5.75M in Underwritten Public Offering

Silo Pharma (NASDAQ: SILO) (formerly OTCQB: SILO) is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research. The company today announced the closing of its underwritten public offering of 1,150,000 shares of its common stock, which included the full exercise of the underwriters’ over-allotment option to purchase 150,000 additional shares of common stock, each at a public offering price of $5.00. Silo Pharma’s common stock began trading on the Nasdaq Capital Market on Sept. 27, 2022, under the symbol SILO. The company secured $5,750,000 million in gross proceeds from the offering, before deducting underwriting discounts and commissions and other expenses. Silo Pharma intends to use the net proceeds for product development, marketing, working capital and general corporate purposes. In addition, a portion of the proceeds may be used for acquisitions of complementary businesses, technologies or other assets. Laidlaw & Company (U.K.) Ltd. acted as sole book-running manager for the offering.

To view the full press release, visit https://ibn.fm/K4pyF

About Silo Pharma Inc.

Silo Pharma is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimer’s, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research, which it believes will be transformative to the well-being of patients and the health care industry. For more information about the company, visit www.SiloPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO

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PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.

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