Newton Golf Secures $5.0 Million Revolving Credit Facility and Completes Exchange of $2.3 Million of Convertible Notes into Preferred Equity

About this update from Newton Golf Company, Inc.

CAMARILLO, Calif., July 09, 2026 --( BUSINESS WIRE )--Newton Golf Company, Inc. (NASDAQ: NWTG), a technology-forward golf equipment company focused on physics-driven engineering, today announced that it has (i) entered into a $5.0 million senior secured revolving credit facility and (ii) completed the exchange of approximately $2.3 million of outstanding convertible promissory notes, including accrued interest, for Series A Convertible Preferred Stock. The revolving credit facility provides for borrowings of up to $5.0 million, subject to the terms and conditions of the loan agreement, and matures on July 1, 2028. Proceeds from the credit facility will be used for working capital, capital expenditures, growth initiatives and other general corporate purposes. Under the exchange agreements, holders of outstanding convertible promissory notes exchanged approximately $2.3 million of notes, including accrued interest, for an aggregate of 24,092.61 shares of Series A Convertible Preferred Stock. The Series A Preferred Stock is convertible into common stock at an initial conversion price of $1.00 per share, subject to the terms and limitations set forth in the certificate of designation. The exchange reduces outstanding indebtedness and further strengthens the company's balance sheet through the conversion of debt into equity. "These transactions are an important step in strengthening Newton Golf's financial position and supporting our continued execution," said Akinobu Yorihiro, Interim Chief Executive Officer and Chief Technology Officer of Newton Golf. "The exchange of convertible notes into Series A Preferred Stock helps reduce outstanding debt and improves our capital structure, while the revolving credit facility provides access to greater financial flexibility as we continue increasing market awareness and adoption for our Newton Motion shafts." This financing comes as Newton Golf continues to scale from a foundation of proprietary engineering, growing professional validation and expanding adoption within elite club-fitting channels. In 2025, Newton Golf ranked as the No. 1 selling shaft brand for both drivers and fairway woods at Club Champion, one of the world's largest professional club-fitting retailers, reinforcing the brand's emerging position as a trusted performance platform among golfers, fitters and industry partners. The company also recently reported record 2025 net sales growth of 136%, appointed Gregg Hemphill to its board of directors, completed an exclusive distribution agreement with VOICE CADDIE in South Korea, one of the world's largest premium golf equipment markets, and began structured product testing and evaluation programs with leading global golf equipment manufacturers. In addition, Newton Golf introduced new shaft configurations at the 2026 PGA Show, extending the Newton Motion platform across fairway wood and hybrid categories and supporting a broader, system-based fitting approach.

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