SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: 424B4
Document Type: 424B4
Date Filed: 2025-08-26
Accession Number: 0001213900-25-080764
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390025080764/ea0240711-04.htm

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of new or enhanced products; • risks related to a loss of, or material cancellation, reduction, or delay in purchases by, one or more of our largest customers; • our outside suppliers and manufacturers failing to supply products in sufficient quantities and in a timely fashion; • our ability to execute on our strategic initiatives (including acquisitions); • our ability to maintain the reputation of our brands; • the risks related to consumers’ perception of the safety and quality of our products as well as similar products distributed by other companies in our industry; • the risks related to third parties asserting intellectual property infringement claims against us; • the risks related to our planned expansion into additional international markets; • the risks related to adverse economic conditions; • the risks related to catastrophic events; • our ability to retain key personnel, manage our business effectively, and continue to grow;

•        the impact of numerous laws and regulations that apply to the manufacture, sale, and manufacturing of nutritional supplements, and compliance with these laws and regulations, as they currently exist or as modified in the future, on us and our suppliers;

•        the risks related to product recalls;

•        the risks related to product liability claims and litigation to prosecute such claims; and

•        the other factors described in “Risk Factors.”

These factors should not be construed as exhaustive and should be read with the other cautionary statements in this prospectus and the documents incorporated by reference into this prospectus.

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Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from statements made in or suggested by the forward-looking statements contained in this prospectus and the documents incorporated by reference into this prospectus. The matters summarized under “Prospectus Summary,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Business” and elsewhere in this prospectus and in the documents incorporated by reference into this prospectus could cause our actual results to differ significantly from those contained in our forward-looking statements. In addition, even if our results of operations, financial condition and liquidity, and industry developments are consistent with the forward-looking statements contained in this prospectus and the documents incorporated by reference into this prospectus, those results or developments may not be indicative of results or developments in subsequent periods.

In light of these risks and uncertainties, we caution you not to place undue reliance on these forward-looking statements. Any forward-looking statement that we make in this prospectus and the documents incorporated by reference into this prospectus speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments, except as required by applicable law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.

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PROSPECTUS SUMMARY

This summary highlights information contained in greater detail elsewhere or incorporated by reference in this prospectus and does not contain all of the information that you should consider before deciding to invest in our common stock. You should read the entire prospectus carefully, including the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the related notes incorporated by reference into in this prospectus, before making an investment decision. Some of the statements included in this prospectus and the information incorporated by reference herein constitute forward-looking statements. See “Cautionary Note Regarding Forward-Looking Statements.” Unless otherwise indicated in this prospectus, “Synergy CHC,” “we,” “us” and “our” refer to Synergy CHC Corp. and, where appropriate, its subsidiaries.

Our Company

We are a provider of consumer health care, beauty, and lifestyle products. Our current brand portfolio consists of two marquee brands, FOCUSfactor, a clinically-tested brain health supplement (this study was performed independently and is not related to any FDA-approved investigational new drug (IND) application) that has been shown to improve memory, concentration and focus, and Flat Tummy, a lifestyle and wellness brand that provides a suite of nutritional products to help women achieve their nutrition and weight management goals. For the year ended December 31, 2024, FOCUSfactor represented 88% of our net revenue and Flat Tummy was 12%. For the six months ended June 30, 2025, FOCUSfactor represented 86% of our net revenue and Flat Tummy represented 14%. Our products are sold through some of the nation’s leading club, mass drug, and other retailers such as Costco, Amazon.com, Walmart, Walgreens, CVS, BJ’s Wholesale Club, Publix Supermarkets, The Vitamin Shoppe, Target.com, H-E-B, Meijer, and Albertson’s. Additionally, we have expanded into Canada and the United Kingdom.

We built our brand portfolio through strategic acquisitions. We acquired the FOCUSfactor brand in January 2015 for cash consideration of $6.0 million, including earnout. In November 2015, we acquired our second marquee brand, Flat Tummy, for AUD 10.0 million (approximately $7.0 million), using a mix of cash and stock. Our capital structure following the acquisitions of our key brands in 2015 has been highly levered, and our focus has been on paying our debt and, as a result, we do not have the resources to grow our business. We have grown our FOCUSfactor brand from 3 SKUs at acquisition to over 34 SKUs, and our Flat Tummy Brand from 1 SKU to 13 SKUs. We use the term SKU, or stock-keeping unit, to refer to a product with a unique UPC (Universal Product Code), which is the barcode used to identify products.

Our growth from 2022 to the present was driven by expanded distribution of our FOCUSfactor product line to some of our major retailers, such as Costco, CVS and Walmart, among others. This expansion included SKUs within our FOCUSfactor vision line as well as focus and energy Ready-to-Drink (RTD). As a result, net revenue for the year ended December 31, 2024 was $34.8 million, a decrease of $8 million, or 19%, compared to net revenue for the year ended December 31, 2023 of $42.8 million. Net revenue for the six months ended June 30, 2025 was $16.3 million, a decrease of $1.1 million, or 6% compared to net revenue of $17.4 million for the six months ended June 30, 2024. FOCUSfactor net revenue decreased 5% from $14.8 million for the six months ended June 30, 2024 to $14.0 million for the six months ended June 30, 2025. FOCUSfactor net revenue for the year ended December 31, 2024 was $30.8 million, a 17.0% decrease under FOCUSfactor net revenue for the year ended December 31, 2023 of $37.2 million.

Following the completion of this offering, although we do not have a specific plan for the use of the net proceeds of this offering, we intend to use the proceeds on initiatives to accelerate the growth of both our FOCUSfactor supplements and FOCUSfactor energy RTD products. Our asset-light business model, in which we partner with third-party manufacturers to produce our brand offerings, allows us to scale quickly and profitably while satisfying growing demand.

For the year ended December 31, 2024, our net revenues, net income and EBITDA were $34.8 million, $2.1 million and $6.5 million, respectively, as compared to $42.8 million, $6.3 million and $10.8 million for the prior year. The EBITDA decrease in 2024 was due to the decrease in revenue. At December 31, 2024 we had a working capital deficit of $1.1 million. For the six months ended June 30, 2025, our net revenues, net income and EBITDA were $16.3 million, $2.3 million and $5.8 million, respectively, representing an increase (decrease) of (6%), 90%, and 67% over the same period in the prior fiscal year. At June 30, 2025 we had a working capital surplus of $12.4 million.

For reconciliation of EBITDA to net income (loss) see “— Non-GAAP Financial Measures” below.

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Our Brands