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TroyGould Advises Sacks Parents Golf Inc (NASDAQ SPGC) in its $8.4 Million Public Offering
David Ficksman advised Sacks Parents Golf, Inc. (NASDAQ SPGC) in its $8.4 million public offering, which closed on December 13, 2024. Aegis Capital Corp. acted as the sole book-running manager of the offering.
Sacks Parente Golf, Inc., a technology-driven golf company, announced the closing of its upsized $8.4 million underwritten public offering on December 13, 2024. The offering included 7,000,000 Common Units, each comprising one share of Common Stock, one Series A Common Warrant, and one Series B Common Warrant. The public offering price was set at $1.20 per unit. The Series A and Series B Common Warrants, both exercisable at $2.40 per share, will become active following stockholder approval, with expiration periods of 60 and 30 months, respectively.
Aegis Capital Corp. served as the sole book-running manager for the offering, with TroyGould acting as counsel to Sacks Parente Golf and Kaufman & Canoles, P.C. representing Aegis. Additionally, Aegis received a 45-day option to purchase up to 15% more shares and warrants to cover over-allotments.
The U.S. Securities and Exchange Commission (SEC) declared the registration statement effective on December 11, 2024, with the offering conducted solely through a prospectus available on the SEC website.
Sacks Parente Golf specializes in advanced golf technology, offering a portfolio that includes putters, golf shafts, and grips. The company has pioneered innovations such as the First Vernier Acuity putter, Ultra-Low Balance Point (ULBP) putter technology, weight-forward Centre-of-Gravity (CG) design, and ultra-light carbon fibre putter shafts.
The company noted that forward-looking statements within its announcement are subject to risks and uncertainties, and actual outcomes may differ from projections. While it believes in the reasonableness of its expectations, Sacks Parente Golf does not guarantee future performance and does not intend to update these statements unless required by law.
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