Reported Earlier, Synergy CHC Prices $10.35M Initial Public Offering Of 1.15M Common Shares At $9/Share
Portfolio Pulse from Benzinga Newsdesk
Synergy CHC has announced a $10.35 million initial public offering, pricing 1.15 million common shares at $9 each. The company expects net proceeds of $8.4 million, or $9.9 million if underwriters fully exercise their option. Funds will be used to repay related party promissory notes and for general corporate purposes.
October 23, 2024 | 6:19 am
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Synergy CHC's IPO is priced at $9 per share, aiming to raise $10.35 million. The proceeds will be used to repay debts and for corporate purposes, potentially stabilizing the company's financial position.
The IPO will provide Synergy CHC with significant capital, which can be used to improve its financial health by repaying debts and supporting corporate activities. This is likely to have a positive short-term impact on the stock price as it indicates financial strengthening.
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