Silo prices up to $11.7 million private placement

Silo Pharma, Inc. (Nasdaq: SILO) said on July 10, 2026 that it had entered into definitive agreements for a private placement priced at-the-market under Nasdaq rules. The offering covers 619,965 shares of common stock, or pre-funded warrants in lieu of shares, together with two series of warrants. The company expects gross proceeds of about $4 million upfront, with up to about $7.7 million more if the warrants are exercised in full on a cash basis.

The terms

Each share, or pre-funded warrant, is priced at $6.452 along with Series A-3 warrants to purchase up to an aggregate of 619,965 shares and short-term Series A-4 warrants to purchase up to an aggregate of 619,965 shares. Both warrant series have an exercise price of $6.21 per share and are exercisable immediately upon issuance. The Series A-3 warrants expire five years after the effective date of the resale registration statement. The short-term Series A-4 warrants expire eighteen months after that date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The release states that gross proceeds are expected to be about $4 million before deducting placement agent fees and other offering expenses. It does not name legal counsel to the company or to the placement agent. The potential additional proceeds of about $7.7 million assume the warrants are exercised in full on a cash basis. The release says no assurance can be given that any warrant will be exercised, or that the company will receive cash from exercises.

The securities are offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and they have not been registered under the Act. Under a registration rights agreement, Silo agreed to file one or more registration statements with the SEC to cover the resale of the unregistered securities.

What the company does

Silo's annual report for 2025, filed March 27, 2026, describes the company as a developmental stage biopharmaceutical and cryptocurrency company. Its lead program, SPC-15, is an intranasal treatment for PTSD and stress-induced anxiety disorders, which the company says may qualify for the FDA's 505(b)(2) pathway. SP-26 is a time-release ketamine-based implant for fibromyalgia and chronic pain. Two preclinical programs, SPC-14 for Alzheimer's disease and SPU-16 for multiple sclerosis, complete the pipeline described in the annual report.

The annual report says SPC-15 is licensed exclusively from Columbia University, with a soft mist nasal spray technology licensed from Medspray Pharma BV.

Financial position

The annual report shows research and development expense of $2.2 million for 2025, down from $2.4 million for 2024. It reports a net loss of $4.2 million for 2025 and $4.4 million for 2024. Cash from operations was negative $4.7 million in 2025 and negative $3.8 million in 2024. Year-end cash and cash equivalents were $3.9 million at the end of 2024.

The offering is expected to bring in about $4 million at closing before fees and expenses, against the $4.7 million used in operations in 2025.

The risks ahead

The units are priced at $6.452 while both warrant series carry an exercise price of $6.21, and each series covers 619,965 shares on top of the 619,965 sold, so the placement could add substantially to the share count. The $7.7 million of possible extra proceeds depends on holders choosing to exercise, and the company gives no assurance they will. Net proceeds will go to working capital and general corporate purposes, with the resale registration statement to follow and no date given.

Silo has almost no revenue: $72,102 in both 2025 and 2024, against a net loss of $4.2 million and cash used in operations of $4.7 million in 2025. Its quarterly report shows cash and cash equivalents of $3.3 million and short-term investments of $2.0 million at June 30, 2026. The drug work is early. The annual report says a pre-IND briefing package and meeting request for SPC-15 went to the FDA in June 2024. The sources show no investigational new drug application and no human data, and they describe the 505(b)(2) pathway only as one the drug may qualify for.

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