SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: S-1
Document Type: S-1
Date Filed: 2025-08-15
Accession Number: 0001213900-25-077458
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390025077458/ea0240711-03.htm

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our existing stockholders and could cause our stock price to decline. Table of Contents USE OF PROCEEDS We estimate that our net proceeds from the sale of 1,275,510 shares of common stock in this offering will be approximately $4.4 million (or $5.1 million if the underwriters exercise their over-allotment option in full), at the assumed public offering price per share of common stock of $3.92, which was the last reported sale price of our common stock on the Nasdaq Capital Market on August 12, 2025, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We intend to use the net proceeds from this offering for working capital and other general corporate purposes. In the event that any net proceeds are not immediately applied, we may temporarily hold them as cash, deposit them in banks or invest them in cash equivalents or securities. Table of Contents CAPITALIZATION

The following table sets forth our cash and cash equivalents and capitalization as of June 30, 2025 on an as adjusted basis to give effect to the issuance and sale by us in this offering of 1,275,510 shares of our common stock at an assumed public offering price of $3.92 per share (the last reported sale price of our common stock on the Nasdaq Capital Market on August 12, 2025), after deducting underwriting discounts and commissions and estimated offering expenses that we expect to pay.

This table should be read in conjunction with, and is qualified in its entirety by reference to, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes incorporated by reference into this prospectus.

As of June 30 , 2025

Actual As Adjusted

Cash and cash equivalents $	1,458,561 $	5,867,751

Capitalization:

Current debt:

Short term loans payable, net of debt discount 1,894,857 1,894,857

Total current debt 1,894,857 1,894,857

Long-term debt:

Notes payable, net of debt discount 24,978,999 24,978,999

Total long-term debt 24,978,999 24,978,999

Stockholders’ deficit:

Common stock, $0.00001 par value; 300,000,000 shares authorized; 9,621,926 shares issued and 9,441,853 shares outstanding, actual; and 10,897,436 shares issued and 10,717,363 outstanding, as adjusted 96 109

Additional paid in capital 29,508,354 33,917,531

Accumulated other comprehensive loss (9,838	) (9,838	)

Accumulated deficit (41,750,312	) (41,750,312	)

Less: Treasury stock (180,073 shares) at cost (127,500	) (127,500	)

Total stockholders’ deficit (12,379,200	) (7,970,010	)

Total Capitalization $	14,494,656 $	18,903,846

Unless we indicate otherwise, all information in this Capitalization section:

•        assumes no exercise by the underwriters of their over-allotment option;

•        excludes 38,265 shares of common stock issuable upon exercise of the Underwriter Warrants;

•        excludes 252,102 shares of common stock issuable upon the exercise of outstanding options at a weighted average exercise price of $6.15 per share;

•        excludes 2,252,102 shares of common stock reserved for future issuance pursuant to our 2024 Equity Incentive Plan; and

•        excludes 103,500 shares of common stock issuable upon the exercise of outstanding options at a weighted average exercise price of $11.70 per share.

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DILUTION

If you invest in our common stock in this offering, your interest will be diluted to the extent of the difference between the public offering price per share of our common stock and the as adjusted net tangible book value per share of our common stock immediately after the closing of this offering.

Our historic net tangible book value of our common stock as of June 30, 2025 was approximately $(12.6 million), or $(1.33) per share, based on the number of shares of our common stock outstanding as of June 30, 2025. Historic net tangible book value per share represents our total tangible assets less our total liabilities, divided by the number of outstanding shares of common stock.

After giving effect to the receipt of the net proceeds from our sale of 1,275,510 shares of common stock in this offering at an assumed public offering price of $3.92 per share (the last reported sale price of our common stock on the Nasdaq Capital Market on August 12, 2025), after deducting underwriting discounts and commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been $(8.2 million), or $(0.76) per share. This represents an immediate increase in as adjusted net tangible book value of $0.57 per share to our existing stockholders and an immediate dilution of $4.68 per share to investors purchasing common stock in this offering.

We calculate dilution per share to new investors by subtracting the historic net tangible book value per share from the public offering price paid by the new investor. The following table illustrates the dilution to new investors on a per share basis:

Assumed public offering price per share $	3.92

Historic net tangible book value (deficit) per share as of June 30, 2025 $	(1.33	)

Increase in net tangible book value per share attributable to new investors in this offering $	0.57

As adjusted net tangible book value per share as of June 30, 2025 after this offering (0.76	)

Dilution in net tangible book value per share to new investors in this offering $	4.68

Each $1.00 increase (decrease) in the assumed public offering price of $3.92 per share would increase (decrease) our as adjusted net tangible book value per share after this offering by $0.11 per share and the dilution to new investors by $5.57 per share, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

If the underwriters’ option to purchase additional shares to cover over-allotments is exercised in full, the as adjusted net tangible book value per share after giving effect to this offering would be $(0.69) per share, representing an immediate increase to existing stockholders of $0.65 per share, and immediate dilution to new investors in this offering of $4.61 per share.

The following table summarizes, as of June 30, 2025, on the as adjusted basis described above:

•        the total consideration paid to us by our existing stockholders and by new investors purchasing common stock in this offering, assuming a public offering price of $3.92 per share (the last reported sale price of our common stock on the Nasdaq Capital Market on August 12, 2025), before deducting underwriting discounts and commissions and estimated offering expenses payable by us in connection with this offering; and

•        the average price per share paid by existing stockholders and by new investors purchasing shares in this offering.

Shares Purchased Total Consideration Average Price Per Share

Number Percent Amount Percent

Existing stockholders 9,441,853 88	% $	29,508,450 86	% $	3.13

New investors 1,275,510 12	% 4,999,999 14	% $	3.92

Total 10,717,363 100.0	% 34,508,449 100.0	% $	3.22

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A $1.00 increase (decrease) in the assumed public offering price of $3.92 per share would increase (decrease) total consideration paid by new investors by $1.3 million and increase (decrease) the total consideration paid to us by new investors by 26%, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

If the underwriters’ option to purchase additional shares to cover over-allotments is exercised in full, the number of shares held and the percentage of total consideration paid by the existing stockholders after this offering would be reduced to 87% and 84%, respectively, and the number of shares held and the percentage of total consideration paid by new investors would increase to 13% and 16%, respectively.

The foregoing calculations assume no exercise by the underwriters of their over-allotment option and exclude:

•        38,265 shares of common stock issuable upon exercise of the Underwriter Warrants;

•        252,102 shares of common stock issuable upon the exercise of outstanding options at a weighted average exercise price of $6.15 per share;

•        2,252,102 shares of common stock reserved for future issuance pursuant to our 2024 Equity Incentive Plan; and

•        103,500 shares of common stock issuable upon the exercise of outstanding options at a weighted average exercise price of $11.70 per share.

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DESCRIPTION OF CAPITAL STOCK

The following descriptions are summaries of the material terms of our certificate of incorporation and amended and restated bylaws, to which you should refer. Reference is made to the more detailed provisions of, and the descriptions are qualified in their entirety by reference to, the certificate of incorporation and amended and restated bylaws, which are filed with the SEC as exhibits to the registration statement of which this prospectus is a part, and applicable law.

General