Synergy CHC Corp. Announces Closing of Initial Public Offering

WESTBROOK, Maine, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Synergy CHC Corp. (NASDAQ:SNYR) ("Synergy"), a provider of consumer health care, beauty, and lifestyle products, announced today the completion of its initial public offering of 1,150,000 shares of its common stock at $9.00 per share. The shares of common stock began trading on the Nasdaq Global Market on October 23, 2024 under the ticker symbol "SNYR." In addition, Synergy granted the underwriters a 30-day option to purchase up to an additional 172,500 shares of common stock at the public offering price less underwriting discounts and commissions.

The net proceeds received by Synergy from the offering (after deducting underwriting discounts and commission and estimated offering expenses) were approximately $8.4 million. Synergy intends to use the net proceeds of this offering to repay a portion of outstanding amounts under certain related party promissory notes and for general corporate purposes, including working capital.

Roth Capital Partners acted as the sole manager for the offering.

The offering was made only by means of a prospectus contained in Synergy's registration statement on Form S-1, as amended. Copies of the ...