Business
Newton Golf Company Announces Name Change and 1-for-30 Reverse Stock Split
Company to trade under new ticker symbol “NWTG” on Nasdaq beginning March 17, 2025 CAMARILLO, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- via IBN – Newton Golf
About this update from Newton Golf Company, Inc.
[{"type":"text","content":"Company to trade under new ticker symbol “NWTG” on Nasdaq beginning March 17, 2025\nCAMARILLO, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- via IBN – Newton Golf Company (Nasdaq: SPGC) (“Newton Golf” or the “Company”), a leader in premium golf equipment innovation, today announces that it has officially changed its corporate name from Sacks Parente Golf, Inc. to Newton Golf Company to better reflect its commitment to revolutionizing golf through advanced physics and precision engineering. In addition, the Company’s Board of Directors has approved a 1-for-30 reverse stock split, which is expected to take effect at the opening of trading on March 17, 2025. Effective that same day, the Company’s common stock will begin trading on a split-adjusted basis under the new ticker symbol “NWTG” on the Nasdaq Capital Market. The Meaning Behind Newton Golf The name Newton Golf pays tribute to Sir Isaac Newton, whose groundbreaking discoveries in physics forever changed our understanding of motion and force—principles that are fundamental to the game of golf. Much like Newton’s early insights into gravity and motion shaped modern science, Newton Golf is pioneering a new era in golf performance technology, leveraging cutting-edge engineering to enhance distance, control, and consistency for golfers of all skill levels. “This name change marks a new chapter in our company’s evolution as we push the boundaries of performance in golf equipment,” said Greg Campbell, Chairman and CEO of Newton Golf Company. “Sir Isaac Newton’s revolutionary thinking changed the world, and Newton Golf embodies that same spirit of discovery and innovation. Our advanced physics-driven designs are setting new standards in golf technology, from high-performance shafts to next-generation putters.” Recent Capital Raise and Financial Position In December 2024, the Company completed an underwritten public offering, raising approximately $8.4 million in gross proceeds before deducting underwriting fees and offering expenses. This infusion of capital strengthens Newton Golf’s ability to advance its strategic initiatives, accelerate product development, and enhance operational capabilities. Key Details of the Reverse Stock Split Every 30 shares of issued and outstanding common stock will automatically convert into one share.No fractional shares will be issued; instead, any fract...