DefaultAug 11, 2026, 04:43 PM
Synergy CHC Receives Default Notice on $17.6M Loan
AI Summary
Synergy CHC Corp. received a notice of default from ACP Agency, LLC on August 11, 2026, under its Term Loan Credit Agreement. The default was triggered by the Company's failure to make an interest payment due on August 3, 2026, following the expiration of the cure period. As a result, the forbearance period terminated, and a forbearance fee of $404,173.06 is due. Approximately $17.6 million in principal remains outstanding, and ACP has reserved its rights, including accelerating the obligations.
Key Highlights
- Synergy CHC Corp. received a notice of default from ACP Agency, LLC on August 11, 2026.
- The default was due to the Company's failure to make an interest payment due on August 3, 2026.
- The applicable cure period for the missed payment expired on August 6, 2026.
- The forbearance period under the May 28, 2026 Forbearance Agreement terminated on August 6, 2026.
- A forbearance fee of $404,173.06 is now due and payable.
- Approximately $17.6 million principal amount remains outstanding under the Credit Agreement.
Price Impact
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