Synergy Resources Corp. (NYSE MKT: SYRG) has announced the launch of an underwritten public offering of $150 million of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional $22.5 million of common stock from the company. All of the shares to be sold in this offering will be sold by the company.

Synergy intends to use the net proceeds from the offering, along with cash on hand, to fund additional asset acquisitions in Wattenberg Field which may become available from time to time, to pay down outstanding indebtedness under its revolving credit facility and for corporate purposes, including working capital.

Seaport Global Securities LLC is acting as book-running manager/co-lead of the offering and Johnson Rice & Company L.L.C. is acting as co-lead manager.

The company is based in Platteville, Colo.