{"id":824065,"date":"2025-03-11T07:06:52","date_gmt":"2025-03-11T11:06:52","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/newton-golf-company-announces-name-change-and-1-for-30-reverse-stock-split\/"},"modified":"2025-03-11T07:06:52","modified_gmt":"2025-03-11T11:06:52","slug":"newton-golf-company-announces-name-change-and-1-for-30-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/newton-golf-company-announces-name-change-and-1-for-30-reverse-stock-split\/","title":{"rendered":"Newton Golf Company Announces Name Change and 1-for-30 Reverse Stock Split"},"content":{"rendered":"

\nCompany to trade under new ticker symbol \u201cNWTG\u201d on Nasdaq beginning March 17, 2025
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CAMARILLO, Calif., March 11, 2025 (GLOBE NEWSWIRE) — via IBN \u2013 Newton Golf Company (Nasdaq: SPGC) (\u201cNewton Golf\u201d or the \u201cCompany\u201d), 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.<\/p>\n

In addition, the Company\u2019s 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\u2019s common stock will begin trading on a split-adjusted basis under the new ticker symbol \u201cNWTG\u201d on the Nasdaq Capital Market.<\/p>\n

\n The Meaning Behind Newton Golf<\/b>\n <\/p>\n

The name Newton Golf pays tribute to Sir Isaac Newton, whose groundbreaking discoveries in physics forever changed our understanding of motion and force\u2014principles that are fundamental to the game of golf. Much like Newton\u2019s 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.<\/p>\n

\u201cThis name change marks a new chapter in our company\u2019s evolution as we push the boundaries of performance in golf equipment,\u201d said Greg Campbell, Chairman and CEO of Newton Golf Company. \u201cSir Isaac Newton\u2019s 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.\u201d<\/p>\n

\n Recent Capital Raise and Financial Position<\/b>\n <\/p>\n

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\u2019s ability to advance its strategic initiatives, accelerate product development, and enhance operational capabilities.<\/p>\n

\n Key Details of the Reverse Stock Split<\/b>\n <\/p>\n