Sacks Parente Golf announces $8.4 million public offering

Sacks Parente Golf is known for its innovative golf products, including the first Vernier Acuity putter and its patented Ultra-Low Balance Point technology. InvestingPro analysis reveals impressive gross profit margins of 61.2%, though the company is currently experiencing rapid cash burn. The company's forward-looking statements indicate plans for product development and business expansion, though these are not guarantees of future performance. Subscribers to InvestingPro can access 16 additional investment insights about SPGC.

Priced at $1.20 per common unit and $1.199 for each pre-funded unit, the offering is structured to allow immediate exercise of the pre-funded warrants. The pricing comes as the stock trades near its 52-week low of $1.39, having declined about 80% over the past year. The Series A and Series B common warrants, exercisable upon stockholder approval, have an exercise price of $2.40 per share, with Series A expiring after 60 months and Series B after 30 months.

Aegis Capital Corp. has been granted an option to purchase up to an additional 15% of the shares and warrants to cover over-allotments. The net proceeds are earmarked for general corporate purposes and working capital.

This transaction follows the effectiveness of a registration statement filed with the SEC on November 26, 2024, and declared effective on December 11, 2024. The offering is only available through a prospectus, which can be obtained from Aegis Capital Corp.

Sacks Parente Golf is known for its innovative golf products, including the first Vernier Acuity putter and its patented Ultra-Low Balance Point technology. InvestingPro analysis reveals impressive gross profit margins of 61.2%, though the company is currently experiencing rapid cash burn. The company's forward-looking statements indicate plans for product development and business expansion, though these are not guarantees of future performance. Subscribers to InvestingPro can access 16 additional investment insights about SPGC.

This news is based on a press release statement.

In other recent news, Newton Golf has expanded its reach to the Japanese market, launching its Newton Motion shafts for sale through both retail and e-commerce channels. The company's products, known for their innovative golf technology, are now available at 50 of the largest golf retailers in Japan and via GDO, a leading e-commerce platform in the country. These developments are part of Newton Golf's strategic expansion plan, which also includes potential growth into golf apparel and other related product lines.

In parallel with the Japanese market expansion, Newton Golf has announced some significant changes in its executive team. The company has appointed Doug Samuelson as its new Chief Financial Officer, following the resignation of Steve Handy. This move is part of the company's aggressive growth plans, with Samuelson expected to contribute to its continued revenue growth.

Additionally, the company confirmed the appointment of Gregor Campbell as its Executive Chairman. Previously serving in an interim capacity, Campbell's appointment marks another step in strengthening the executive team. These recent developments reflect Newton Golf's commitment to providing value to its shareholders and maintaining its listing on a major stock exchange.

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