Silo Pharma shares are trading lower after the company announced a $2.1 million registered direct offering of 763,638 million shares of its Common Stock at $2.75 per share.
Portfolio Pulse from Benzinga Newsdesk
Silo Pharma shares are trading lower following the announcement of a $2.1 million registered direct offering of 763,638 shares of its Common Stock at $2.75 per share.
July 19, 2024 | 3:49 pm
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Silo Pharma shares are trading lower after the company announced a $2.1 million registered direct offering of 763,638 shares of its Common Stock at $2.75 per share.
The announcement of a registered direct offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The market's immediate reaction to the news has been a decline in the share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100