Lucosky Brookman Represents Bancroft Capital in $4.375 Million Synergy CHC Corp. (Nasdaq: SNYR) Underwritten Public Offering
Synergy CHC Corp. (Nasdaq: SNYR), a consumer health and wellness company, has successfully closed its underwritten public offering of 1,750,000 shares of common stock at $2.50 per share, raising $4.375 million in gross proceeds before underwriting discounts, commissions, and expenses.
The offering includes a 45-day option for underwriters to purchase up to an additional 262,500 shares. In connection with the transaction, Synergy issued to the underwriter warrants to purchase up to 52,500 shares of common stock (or 60,375 shares if the overallotment option is exercised). The warrants become exercisable 180 days post-closing and will expire in tranches on the third, fourth, and fifth anniversaries of the offering.
Bancroft Capital, LLC acted as sole book-running manager for the transaction. Lucosky Brookman LLP served as legal counsel to Bancroft Capital.
Proceeds from the offering will be directed toward working capital and general corporate purposes, supporting the Company’s continued expansion of its flagship consumer brands, FOCUSfactor® and Flat Tummy®, across U.S. and international markets.