Corporate ActionMay 11, 2026, 08:07 AM
Synergy CHC Secures $36M Equity Line of Credit
AI Summary
Synergy CHC Corp. entered into an equity purchase agreement with Hudson Global Ventures, LLC, granting the company the right to sell up to $36,000,000 of its common stock over a 24-month period. This agreement provides financial flexibility, allowing the company to direct the investor to purchase shares under specific conditions and pricing mechanisms. As consideration, Synergy CHC issued a warrant for 1,540,000 shares to the investor and agreed to cover $20,000 in legal expenses. The company also committed to filing a registration statement to facilitate the resale of these shares by the investor.
Key Highlights
- Synergy CHC secured an equity purchase agreement for up to $36,000,000 of common stock.
- The agreement allows the company to sell shares over a 24-month period at its discretion.
- Each purchase must be between $25,000 and $2,500,000, or 200% of 3-day average daily trading volume.
- The purchase price for shares will be 95% of certain market prices.
- The company issued a warrant for 1,540,000 common shares at $0.01 exercise price to the investor.
- Synergy CHC will pay $20,000 for the investor's legal counsel expenses.
- The investor's beneficial ownership is limited to 4.99% of outstanding common stock.
- The company will file a registration statement within 30 days for the resale of shares.
Price Impact
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