Silo Pharma, Inc. Files 8-K with Material Agreement
Ticker: SILO · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1514183
| Field | Detail |
|---|---|
| Company | Silo Pharma, Inc. (SILO) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-history
TL;DR
Silo Pharma signed a big deal on July 1st, filing an 8-K. Details TBD.
AI Summary
On July 1, 2024, Silo Pharma, Inc. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also reported other events and filed financial statements and exhibits. Silo Pharma, Inc. was formerly known as Uppercut Brands, Inc., Point Capital, Inc., and Gold Swap Inc.
Why It Matters
This filing indicates a significant new agreement for Silo Pharma, Inc., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement, but the lack of specific details about the agreement introduces uncertainty.
Key Players & Entities
- Silo Pharma, Inc. (company) — Registrant
- July 1, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Uppercut Brands, Inc. (company) — Former company name
- Point Capital, Inc. (company) — Former company name
- Gold Swap Inc (company) — Former company name
FAQ
What is the nature of the material definitive agreement entered into by Silo Pharma, Inc. on July 1, 2024?
The filing states that Silo Pharma, Inc. entered into a material definitive agreement on July 1, 2024, but the specific terms and nature of this agreement are not detailed in the provided excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on July 1, 2024.
What were Silo Pharma, Inc.'s previous company names?
Silo Pharma, Inc. was formerly known as Uppercut Brands, Inc., Point Capital, Inc., and Gold Swap Inc.
In which state was Silo Pharma, Inc. incorporated?
Silo Pharma, Inc. was incorporated in Nevada.
What is the SEC file number for Silo Pharma, Inc.'s 8-K filing?
The SEC file number for Silo Pharma, Inc.'s 8-K filing is 001-41512.
Filing Stats: 797 words · 3 min read · ~3 pages · Grade level 13 · Accepted 2024-07-08 16:15:15
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share SILO The Nasdaq Stock Ma
Filing Documents
- ea0209059-8k_silopharma.htm (8-K) — 27KB
- ea020905901ex10-1_silo.htm (EX-10.1) — 276KB
- ea020905901ex99-1_silo.htm (EX-99.1) — 8KB
- 0001213900-24-059821.txt ( ) — 532KB
- silo-20240701.xsd (EX-101.SCH) — 3KB
- silo-20240701_lab.xml (EX-101.LAB) — 33KB
- silo-20240701_pre.xml (EX-101.PRE) — 22KB
- ea0209059-8k_silopharma_htm.xml (XML) — 3KB
01. Entry into a Material Definitive
Item 1.01. Entry into a Material Definitive Agreement. On July 1, 2024, Silo Pharma, Inc. (the "Company"), entered into an exclusive license agreement (the "Columbia License Agreement") with Columbia University ("Columbia") effective as of June 28, 2024 (the "Effective Date") and pursuant to which the Company has been granted exclusive rights to certain patents and technical information to develop, manufacture and commercialize Products (as defined in the Columbia License Agreement), including therapies for stress-induced affective disorders and other conditions. The term of the Columbia License Agreement shall commence on the Effective Date and shall continue on a country-by-country and product-by-product basis until the latest of: (a) the date of expiration of the last to expire of the issued Patents (as defined in the Columbia License Agreement), (b) twenty (20) years after the first bona fide commercial sale of the Product in the country in question, or (c) expiration of any market exclusivity period granted by a regulatory agency for a Product in the country in question. Pursuant to the Columbia License Agreement, we agreed to pay Columbia (i) initial and annual license fees ranging from the low five figures to mid five figures that are creditable to earned royalties and milestone payments due to Columbia in the same calendar year, (ii) certain development-based and other milestone payments, (iii) royalty payments, depending on net revenues, (iv) minimum royalty payments, and (v) certain non-royalty sublicense income. Royalties on each particular Product are payable on a country-by-country and product-by-product basis until the later of (i) twenty (20) years after the first bona fide commercial sale of such particular Technology Product in each country and (ii) expiration of any market exclusivity period granted by a regulatory agency of such particular Product in such country. The foregoing description of the Columbia License Agreement does not purport to
01. Other Events
Item 8.01. Other Events. On July 8, 2024, the Company issued a press release announcing the Columbia License Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Description 10.1 # Exclusive License Agreement with Columbia University 99.1 Press Release dated, July 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) # Pursuant to Item 601(b)(10) of Regulation S-K, certain confidential portions of this exhibit were omitted by means of marking such portions with an asterisk because the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed. -1- SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 8, 2024 SILO PHARMA, INC. /s/ Eric Weisblum Eric Weisblum Chief Executive Officer -2-