Silo Pharma, Inc. entered into an asset purchase agreement on October 1, 2026, with Norsight Consulting Inc., an Arkansas corporation, to acquire specific software, technology, and related intellectual property.
Under the terms of the agreement, the Company agreed to purchase the Purchased Assets in exchange for issuing a warrant to the Seller. This warrant allows Norsight Consulting to purchase up to 300,000 shares of Silo Pharma’s common stock.
The warrant carries an exercise price of $1.51 per share and includes a cashless exercise feature. It is exercisable beginning April 1, 2027, and will expire on September 30, 2031.
The agreement includes a lock-up period for the shares issued to the Seller. This period begins on the effective date of the agreement and ends on the earlier of twelve months after the date, a Change in Control, or written consent from the Company. During this time, the Seller is restricted from transferring or disposing of the shares without the Company's prior written consent.
The issuance of the warrant and the underlying shares was made in reliance upon Section 4(a)(2) of the Securities Act of 1933.
