Recent Updates — TRUG

TruGolf Holdings appointed David Hackett to its Board of Directors on October 8, 2025. This filing updates the board's committee assignments for Mr. Hackett, designating him as a member of both the Audit Committee and the Compensation Committee effective October 22, 2026. The company operates in the golf technology industry.

TruGolf Holdings regained compliance with the Nasdaq Capital Market minimum stockholders' equity requirement of $2.5 million, which it previously failed to meet as of June 30, 2026. The company achieved this status through two recent transactions: the completion of its acquisition of Polymath Research Inc., which added net assets to the balance sheet, and a financing event where holders exercised Series B preferred warrants for an aggregate price of $2.95 million. Nasdaq will continue to monitor compliance at the next periodic report. TruGolf Holdings operates in the golf technology sector, providing indoor golf simulators and software.

TruGolf Holdings completed its acquisition of Polymath Research Inc., issuing 257,494 shares of Class A common stock and 136,956 shares of Series C convertible preferred stock to Polymath shareholders. The company also issued $2.95 million in new Series B preferred warrants following the exercise of existing warrants. Leadership changes include the resignation of director Humphrey Polanen and the appointment of David Hackett to the board. Natalie Hirsch was named Chief Financial Officer and Chief Operating Officer with a $275,000 base salary, while Steven Passey moved to Vice President – Finance. TruGolf operates in the golf technology industry.

TruGolf Holdings, Inc. filed a Certificate of Change with the Nevada Secretary of State to effect a one-for-ten reverse stock split of its Class A common stock. The split became effective on September 29, 2026, at 12:01 a.m. Eastern Time. Under this ratio, every ten pre-split shares were combined into one new share, reducing the number of outstanding shares from approximately 12.44 million to approximately 1.24 million. The authorized share count was proportionally reduced from 101,000,000 to 10,100,000, while the par value remained unchanged at $0.0001 per share. Fractional shares resulting from the split were cancelled in exchange for a cash payment. TruGolf operates in the golf technology industry, providing indoor golf solutions, video games, and e-sports platforms.

TruGolf Holdings, Inc. announced that Christopher Jones voluntarily resigned from all officer and director positions on September 22, 2026, effective immediately. The company entered into a Separation and Settlement Agreement requiring $100,000 in severance and repayment of a $1,444,000 demand loan, with 10% due immediately and the remainder plus 12% interest due in twelve months. Additionally, TruGolf agreed to repurchase franchise rights from Jones for $500,000 under similar deferred payment terms. The Board appointed Jay Heller as an independent director; Heller previously served as Head of Capital Markets at Nasdaq. Separately, the company disclosed that approximately $1.76 million in Series A preferred stock remains outstanding following a conversion price reset to $1.00 per share related to its proposed acquisition of Polymath Research Inc. TruGolf Holdings operates in the golf technology and entertainment industry.

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.