Synergy CHC, which provides consumer health care, beauty, and lifestyle products, filed on Friday with the SEC to raise up to $69 million in an initial public offering. The company had been listed on he OTC Pink (SNYR) but was shifted to the OTC Expert Market on September 28, 2021, which means that there are no longer publicly-available quotations of its common stock.
Synergy's current brand portfolio consists of two marquee brands, patented brain health supplement FOCUSfactor and lifestyle brand Flat Tummy, and a developing brand, Hand MD, a range of preventative, restorative, and anti-aging skin care products designed for the hands. Its products are sold through club, mass drug, and other retailers such as Costco, Amazon, Walmart, Walgreens, CVS, The Vitamin Shoppe, Target, H-E-B, and SuperValu.
The Westbrook, ME-based company was founded in 2010 and booked $47 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol SNYR. B. Riley Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
