Mergers & Acquisitions ·
TruGolf Holdings, Inc. filed an amendment to its Acquisition Agreement with Polymath Research Inc., finalizing the…
TRUGTruGolf Holdings, Inc.
TruGolf Holdings, Inc. filed an amendment to its Acquisition Agreement with Polymath Research Inc., finalizing the consideration structure for the acquisition of Polymath by TruGolf's subsidiary. Under the amended terms, Polymath shareholders will receive Class A common stock representing 19.9% of TruGolf’s pre-acquisition outstanding shares and a fixed number of newly designated Series C convertible preferred shares valued at $140 million minus the value of the issued common stock. Each Series C share has a stated value of $1,000 and converts into Class A common stock at a price of $3.94 per share, subject to beneficial ownership limitations and Nasdaq approval. TruGolf Holdings operates in the golf technology industry, providing virtual golf simulators and software.