Core Viewpoint - Synergy CHC Corp. has secured a $20 million term loan credit agreement to enhance its capital structure and support growth initiatives [1][3]. Financial Details - The company received a $15 million term loan at closing with an interest rate of SOFR plus 8.5%, structured as interest-only through 2025 [2]. - Quarterly principal payments will commence in January 2026 at $175,000, increasing to $350,000 per quarter in 2027 and beyond [2]. - Additionally, a $2.5 million delayed draw facility and a $2.5 million uncommitted term loan incremental facility are available [2]. Strategic Implications - The CEO of Synergy emphasized that the refinancing supports the company's growth strategy and strengthens its capital structure, providing necessary flexibility for future growth [3]. - The delayed draw proceeds will enable the company to repay debt related to settlement agreements, enhancing financial stability as it pursues strategic goals [3]. Company Overview - Synergy CHC Corp. specializes in consumer health care and lifestyle products, with notable brands including FOCUSfactor, a brain health supplement, and Flat Tummy, a wellness brand focused on nutritional products for weight management [4].
Synergy CHC Announces New $20 Million Long-Term Credit Facility