Synergy CHC Corp. announced the pricing of its initial public offering on October 22, 2024. The company priced 1,150,000 shares of its common stock at $9.00 per share, which is expected to generate aggregate gross proceeds of $10.35 million.
The shares are anticipated to begin trading on the Nasdaq Global Market on October 23, 2024, under the ticker symbol “SNYR.” Synergy also granted the underwriters a 30-day option to purchase up to an additional 172,500 shares of common stock at the initial public offering price.
Synergy expects to receive approximately $8.4 million in net proceeds from the offering, or $9.9 million if the underwriters exercise their option in full. These funds are intended to repay a portion of outstanding amounts under certain related party promissory notes and for general corporate purposes, including working capital.
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