Silo Pharma (NASDAQ: SILO), a developmental-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, has announced a stock repurchase program. According to the company, its board of directors has approved the program, which will acquire up to $1 million of the company’s common stock. The announcement noted that the company could purchase common stock in a variety of ways, including in the open market and through privately negotiated transactions; all transactions will be in compliance with United States Securities and Exchange Commission rules and guidelines. The repurchase of stocks will depend on available liquidity, cash flows and market conditions and will also take into consideration corporate and regulatory limitations; the company observed that it is not committed to acquiring a specific amount of shares and that the repurchase program may be suspended or discontinued at any time. As of Nov. 10, 2022, the company had approximately 3,138,797 million shares of common stock outstanding. “The current capital market conditions allow us to capture additional value for all shareholders through this measured buyback program,” said Silo Pharma CEI Eric Weisblum in the press release. “Our board of directors and executive management team remain committed to delivering value to our shareholders.”
To view the full press release, visit https://ibn.fm/U1oHd
About Silo Pharma Inc.
Silo Pharma is a developmental-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research indications for people suffering from indications such as Alzheimer’s disease, PTSD and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research that the company believes will be transformative to the well-being of patients and the healthcare 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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