Silo Pharma Enters Agreements For Purchase And Sale Of 917,432 Shares At $2.18/Share In A Registered Direct Offering; Gross Proceeds $2M
Portfolio Pulse from Benzinga Newsdesk
Silo Pharma has entered into agreements for the purchase and sale of 917,432 shares at $2.18 per share in a registered direct offering, resulting in gross proceeds of $2 million.
June 05, 2024 | 12:06 pm
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Silo Pharma has entered into agreements for the purchase and sale of 917,432 shares at $2.18 per share in a registered direct offering, resulting in gross proceeds of $2 million.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. However, the raised capital could be used for growth initiatives, potentially benefiting the company in the long term.
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