08/19/2026 | Press release | Distributed by Public on 08/19/2026 15:17
Item 1.01 Entry into a Material Definitive Agreement.
On August 18, 2026, Silo Pharma, Inc. (the "Company") entered into an asset purchase agreement (the "Agreement") with Parkview Consulting LLC (the "Seller"). Pursuant to the Agreement, the Seller agreed to sell, and the Company agreed to purchase, certain software, technology, domain names, and related intellectual property (the "Purchased Assets"). Corwin Yu, the sole member and manager of the Seller, currently serves as the lead strategic advisor on the Company's Cryptocurrency Advisory Board.
In consideration for the Purchased Assets, the Company issued to the Seller, 165,000 shares of its common stock, par value $0.0001 per share (the "Shares"). The Shares are subject to a lock-up period beginning on the effective date of the Agreement and ending on the earlier of (i) twelve (12) months after such date, (ii) a Change in Control, as defined in the Agreement, or (iii) written consent of the Company (the "Lock Up Period"). During the Lock Up Period, the Seller may not, without the Company's prior written consent, directly or indirectly, offer, sell, contract to sell, hedge, pledge, grant any option, right or warrant to purchase, or otherwise transfer or dispose of any of the Shares, or enter into any swap or other agreement or transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any of the Shares.
The Agreement contains certain representations, warranties and covenants of the parties that are customary for agreements of its type. In addition, the Seller agreed to indemnify the Company for any misrepresentation or breach under the Agreement, infringement of any third-party right by any portion of the software and any acts of gross negligence, fraud or intentional misconduct by the Seller.
The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
The information set forth under Item 1.01 is incorporated herein by reference.
The offer and sale to the Seller of the Shares was made in reliance upon Section 4(a)(2) under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.