Sacks Parente Golf Secures $8.4 Million in Public Offering

Significant Public Offering Closure for Sacks Parente Golf

Sacks Parente Golf, Inc. (NASDAQ: SPGC), a leading golf technology company, recently achieved a remarkable milestone by closing an underwritten public offering that raised approximately $8.4 million. This offers a substantial boost for the company as it continues to enhance its lineup of golf-related products.

Details of the Offering

The public offering comprised 7,000,000 Common Units, each unit containing one share of Common Stock along with two warrants: Series A and Series B. These warrants provide investors with the opportunity to purchase additional shares at specific prices in the future. The offering price per unit was set at $1.20, providing an attractive entry point for investors.

Warrant Details

Investors who participated in the offering received the Series A Common Warrant, which has an exercise price of $2.40 and is valid following stockholder approval for a period of 60 months. On the other hand, the Series B Common Warrant, also priced at $2.40, is exercisable for 30 months after stockholder approval and comes with a cashless exercise option for added flexibility.

Role of Aegis Capital Corp.

Aegis Capital Corp. played a pivotal role as the sole book-running manager for this public offering, facilitating a smooth transaction process. Moreover, they were granted a 45-day option to buy more shares to manage any over-allotments that may arise, demonstrating confidence in the demand for the company's shares.

Legal Preparations and Compliance

The registration process for this offering involved filing a statement with the U.S. Securities and Exchange Commission (SEC), which was officially declared effective shortly before the offering's closure. The thorough legal groundwork ensures transparency and compliance with federal regulations, fostering trust among investors.

About Sacks Parente Golf, Inc.

Sacks Parente Golf, Inc. is committed to revolutionizing the game of golf with innovative technology. Their products range from high-performance putters to specialized golf shafts and grips. The company's notable achievements include the introduction of the Vernier Acuity putter and the patented Ultra-Low Balance Point (ULBP) technology, which have significantly contributed to developing advanced golfing equipment.

Future Innovations

As the company looks ahead, their focus remains on enhancing product offerings that cater to golfers of all skill levels. With an emphasis on innovation, Sacks Parente Golf aims to introduce newer technologies that will assist players in improving their game. Their commitment to utilizing cutting-edge materials like ultra-light carbon fiber in their putter shafts is a testament to their forward-thinking approach.

Contact Information

For inquiries or additional information, Sacks Parente Golf encourages potential investors or interested parties to reach out directly. Their contact number is (855) 774-7888, option 8. Additionally, they welcome emails at investors@sacksparente.com.

Frequently Asked Questions

What is the total amount raised in the offering?

The offering raised approximately $8.4 million before deducting underwriting fees and expenses.

Who managed the public offering?

Aegis Capital Corp. acted as the sole book-running manager for the public offering.

What products does Sacks Parente Golf offer?

Sacks Parente Golf's offerings include putters, golf shafts, grips, and various accessories designed to enhance the golfing experience.

What are the Series A and Series B Warrants?

The Series A and Series B Warrants provide investors with the option to purchase additional shares of Common Stock at a price of $2.40 per share after stockholder approval.

How can investors contact Sacks Parente Golf?

Investors can reach Sacks Parente Golf by calling (855) 774-7888, option 8, or by emailing investors@sacksparente.com.

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