Form 8-K - Current report
30 6월 2023 - 5:31AM
Edgar (US Regulatory)
0001514183
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0001514183
2023-06-28
2023-06-28
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 28, 2023
Silo Pharma, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41512 |
|
27-3046338 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
560 Sylvan Ave, Suite 3160
Englewood Cliffs, NJ |
|
07632 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (718) 400-9031
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Rule 12(b) of
the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of exchange on which registered |
Common Stock, par value $0.0001 per share |
|
SILO |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 – Other Events
On June 28, 2023, Silo Pharma,
Inc. (the “Company”) entered into an amendment (the “Amendment”) to that certain Commercial Evaluation and License
Agreement (“CELA”) entered into by and between the Company and the University of Maryland, Baltimore (“UMB”) dated
February 26, 2021 pursuant to which the term of the CELA was extended until September 30, 2023. In addition, the Company may at its option
extend the CELA until December 31, 2023, by providing written notice to UMB on or before August 31, 2023, and by paying an additional
license fee of $2,500.
The foregoing summary of the
Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
SILO PHARMA, INC. |
|
|
|
Date: June 29, 2023 |
By: |
/s/ Eric Weisblum |
|
|
Eric Weisblum |
|
|
Chief Executive Officer |
-2-
Exhibit 99.1
Fifth Amendment To
Commercial
Evaluation and License Agreement
This Fifth Amendment
to Commercial Evaluation and License Agreement (“Fifth Amendment”) is effective as of the date of the last signature
on the signature page between the UNIVERSITY OF MARYLAND, BALTIMORE (“University”), a public university that is part
of the University System of Maryland (which is a public corporation and an instrumentality of the State of Maryland), and SILO PHARMA,
INC., a Florida corporation (“Company”).
BACKGROUND
University
and Company entered into a Commercial Evaluation and License Agreement, effective as of February 26, 2021, as amended (“CELA”).
(Any capitalized term that is not otherwise defined in this Fifth Amendment shall have the meaning set forth in the CELA.)
University
has agreed to extend the term of the CELA. Therefore, the Parties agree to amend the CELA as set forth in this Fifth Amendment.
NOW THEREFORE, the Parties agree as
follows:
A.
Section 8 (Term) of the CELA is hereby deleted in its entirety, and replaced with
the following:
8.1 Term.
8.1.1 This
Agreement became effective on February 26, 2021, and shall expire on September 30, 2023 (unless sooner terminated in accordance with
this Article 8).
8.1.2
Company may at its option extend this Agreement until December 31, 2023, by providing written notice to University on or before
August 31, 2023, and by paying an additional license fee of $2,500.00. The license fee is non-refundable. If the parties enter into
a Master License Agreement, the license fee shall be creditable against patent expenses payable under the Master License Agreement.
However, if there is an uncured default or material breach of this Agreement by Company at the time University receives Company’s
notice of extension, Company shall have no right to extend the Term unless it is cured to the reasonable satisfaction of
University.
8.1.3
However, if Company timely exercises the Option, this Agreement will expire at the end of the Negotiation Period or upon execution
of a Master License Agreement, whichever occurs first.
B. Except
as specifically modified in this Amendment, all terms and conditions of the CELA shall remain in full force and effect.
C. This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including PDF or any electronic signature
complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com), or other transmission method. Any counterpart so
delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
IN WITNESS WHEREOF, each party has caused
this Fifth Amendment to be executed under seal by its duly authorized representative.
|
UNIVERSITY
OF MARYLAND, BALTIMORE |
|
|
|
By: |
/s/ Philip J. Robilotto |
(SEAL) |
|
|
Philip
J. Robilotto |
|
|
Associate Vice President,
OTT |
|
|
|
|
Date: |
6/28/2023 |
|
|
|
|
SILO PHARMA,
INC. |
|
|
|
|
By: |
/s/ Eric Weisblum |
(SEAL) |
|
|
Eric Weisblum |
|
|
Chief Executive Officer |
|
|
|
|
Date: |
6/28/2023 |
v3.23.2
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Jun. 28, 2023 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
Jun. 28, 2023
|
Entity File Number |
001-41512
|
Entity Registrant Name |
Silo Pharma, Inc.
|
Entity Central Index Key |
0001514183
|
Entity Tax Identification Number |
27-3046338
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
560 Sylvan Ave
|
Entity Address, Address Line Two |
Suite 3160
|
Entity Address, City or Town |
Englewood Cliffs
|
Entity Address, State or Province |
NJ
|
Entity Address, Postal Zip Code |
07632
|
City Area Code |
718
|
Local Phone Number |
400-9031
|
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
SILO
|
Security Exchange Name |
NASDAQ
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Entity Emerging Growth Company |
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