Business
TRUGOLF, INC. AND DEEP MEDICINE ACQUISITION CORP. CLOSE BUSINESS COMBINATION; TRUGOLF BECOMES PUBLICLY TRADED COMPANY
SALT LAKE CITY, Jan. 31, 2024 (GLOBE NEWSWIRE) -- TruGolf, Inc. (Nasdaq: TRUG) ("TruGolf”), among the leading sellers and distributors of golf simulator
About this update from Trugolf Holdings, Inc.
[{"type":"text","content":"SALT LAKE CITY, Jan. 31, 2024 (GLOBE NEWSWIRE) -- TruGolf, Inc. (Nasdaq: TRUG) (\"TruGolf”), among the leading sellers and distributors of golf simulator software and hardware with headquarters in Salt Lake City, Utah, and Deep Medicine Acquisition Corp. (“DMAQ”), a publicly traded special purpose acquisition company, today announced that their previously announced business combination (the “Business Combination”) has closed, resulting in TruGolf becoming a publicly-traded company. In connection with the consummation of the business combination, the combined public company was renamed “TruGolf Holdings, Inc.” The Business Combination and all other proposals presented were approved at an extraordinary general meeting of DMAQ stockholders held on January 19, 2024. In connection with the completion of the Business Combination, TruGolf’s Class A common stock will begin trading on the Nasdaq Stock Market (“Nasdaq”) under the ticker symbol “TRUG”, on February 1, 2024. TruGolf’s current management team will continue to lead the combined company following the closing. Chris Jones, CEO and Co-Founder of TruGolf, commented, “Today marks a significant milestone as we embark on our journey as a publicly traded company. This is not just a financial achievement, as this will serve as a vehicle to accelerate our growth and a testament to the commitment and expertise of our board, management team and passionate employees. We are thankful for the DMAQ team's support and guidance throughout the transaction process.” “We share TruGolf’s vision of making golf more accessible to a broader and rapidly growing audience,” stated Humphrey Polanen, CEO of DMAQ. “TruGolf’s innovative software and data analytics can improve the players’ skills, while the user-friendly design increases their enjoyment of golf.” To celebrate the completion of the Business Combination, TruGolf will lead the closing bell ceremony at the Nasdaq Stock Market on Friday, February 9, 2024, in celebration of its Nasdaq listing. The live broadcast will start at 3:45 PM Eastern Time from the Nasdaq MarketSite Tower in New York City, New York. Please tune in to the broadcast by visiting www.nasdaq.com/marketsite/bell-ringing-ceremony. Additional information regarding TruGolf and the closing of the Business Combination, will be included in a current report on Form 8-K to be filed with t...