Newton Golf Company Announces Name Change and 1-for-30 Reverse Stock Split
Newton Golf Company (Nasdaq: SPGC) has announced two major corporate changes: a company name change from Sacks Parente Golf and a 1-for-30 reverse stock split, both effective March 17, 2025. The company will trade under the new ticker symbol NWTG on the Nasdaq Capital Market.
The rebranding to Newton Golf pays homage to Sir Isaac Newton, reflecting the company's focus on physics-driven golf equipment innovation. In December 2024, the company completed an $8.4 million public offering to support strategic initiatives and product development.
Under the reverse split terms, every 30 shares will convert into one share, with fractional shares rounded up. Shareholders are not required to take any action as positions will be automatically adjusted. The company aims to attract institutional investors and strengthen its market position through these strategic changes.
Newton Golf Company (Nasdaq: SPGC) ha annunciato due importanti cambiamenti aziendali: un cambio di nome da Sacks Parente Golf e uno split azionario inverso 1-per-30, entrambi effettivi dal 17 marzo 2025. L'azienda verrà scambiata con il nuovo simbolo NWTG sul Nasdaq Capital Market.
Il rebranding in Newton Golf rende omaggio a Sir Isaac Newton, riflettendo l'attenzione dell'azienda sull'innovazione degli attrezzi da golf guidata dalla fisica. Nel dicembre 2024, l'azienda ha completato un offerta pubblica di 8,4 milioni di dollari per supportare iniziative strategiche e sviluppo di prodotto.
Secondo i termini dello split inverso, ogni 30 azioni si convertiranno in una sola azione, con le azioni frazionarie arrotondate per eccesso. Gli azionisti non sono tenuti a intraprendere alcuna azione poiché le posizioni verranno automaticamente adeguate. L'azienda mira ad attrarre investitori istituzionali e a rafforzare la propria posizione di mercato attraverso questi cambiamenti strategici.
Newton Golf Company (Nasdaq: SPGC) ha anunciado dos importantes cambios corporativos: un cambio de nombre de Sacks Parente Golf y una división de acciones inversa de 1 por 30, ambos efectivos el 17 de marzo de 2025. La empresa se negociará bajo el nuevo símbolo NWTG en el Nasdaq Capital Market.
El cambio de marca a Newton Golf rinde homenaje a Sir Isaac Newton, reflejando el enfoque de la empresa en la innovación de equipos de golf impulsada por la física. En diciembre de 2024, la empresa completó una oferta pública de 8.4 millones de dólares para apoyar iniciativas estratégicas y el desarrollo de productos.
Según los términos de la división inversa, cada 30 acciones se convertirán en una acción, con las acciones fraccionarias redondeadas hacia arriba. Los accionistas no están obligados a tomar ninguna acción, ya que las posiciones se ajustarán automáticamente. La empresa tiene como objetivo atraer a inversores institucionales y fortalecer su posición en el mercado a través de estos cambios estratégicos.
뉴턴 골프 컴퍼니 (Nasdaq: SPGC)는 두 가지 주요 기업 변화를 발표했습니다: Sacks Parente Golf에서 이름을 변경하고 1대 30의 역 분할을 시행하며, 두 가지 모두 2025년 3월 17일부터 시행됩니다. 이 회사는 Nasdaq Capital Market에서 새로운 티커 기호 NWTG로 거래될 것입니다.
뉴턴 골프로의 브랜드 변경은 아이작 뉴턴 경에게 경의를 표하며, 물리학 기반의 골프 장비 혁신에 대한 회사의 초점을 반영합니다. 2024년 12월, 이 회사는 전략적 이니셔티브와 제품 개발을 지원하기 위해
역 분할 조건에 따르면, 30주마다 1주로 전환되며, 분할된 주식은 올림 처리됩니다. 주주들은 아무런 조치를 취할 필요가 없으며, 포지션은 자동으로 조정됩니다. 이 회사는 이러한 전략적 변화를 통해 기관 투자자를 유치하고 시장 위치를 강화하는 것을 목표로 하고 있습니다.
Newton Golf Company (Nasdaq: SPGC) a annoncé deux changements importants au sein de l'entreprise : un changement de nom de Sacks Parente Golf et un regroupement d'actions de 1 pour 30, tous deux effectifs à partir du 17 mars 2025. L'entreprise sera cotée sous le nouveau symbole NWTG sur le Nasdaq Capital Market.
Le changement de marque en Newton Golf rend hommage à Sir Isaac Newton, reflétant l'orientation de l'entreprise vers l'innovation en matière d'équipement de golf axée sur la physique. En décembre 2024, l'entreprise a réalisé une offre publique de 8,4 millions de dollars pour soutenir des initiatives stratégiques et le développement de produits.
Selon les termes du regroupement d'actions, chaque 30 actions sera convertie en une action, avec les actions fractionnaires arrondies à l'unité supérieure. Les actionnaires ne sont pas tenus de prendre des mesures, car les positions seront automatiquement ajustées. L'entreprise vise à attirer des investisseurs institutionnels et à renforcer sa position sur le marché grâce à ces changements stratégiques.
Newton Golf Company (Nasdaq: SPGC) hat zwei wichtige Unternehmensänderungen angekündigt: eine Namensänderung von Sacks Parente Golf und einen Reverse Stock Split im Verhältnis 1 zu 30, beide ab dem 17. März 2025 wirksam. Das Unternehmen wird unter dem neuen Tickersymbol NWTG am Nasdaq Capital Market gehandelt.
Das Rebranding zu Newton Golf zollt Sir Isaac Newton Tribut und spiegelt den Fokus des Unternehmens auf physikbasierte Innovationen im Golfbereich wider. Im Dezember 2024 hat das Unternehmen ein Öffentliches Angebot über 8,4 Millionen Dollar abgeschlossen, um strategische Initiativen und Produktentwicklungen zu unterstützen.
Gemäß den Bedingungen des Reverse Splits wird jede 30 Aktien in eine Aktie umgewandelt, wobei Bruchaktien aufgerundet werden. Die Aktionäre sind nicht verpflichtet, Maßnahmen zu ergreifen, da die Positionen automatisch angepasst werden. Das Unternehmen zielt darauf ab, institutionelle Investoren anzuziehen und seine Marktposition durch diese strategischen Veränderungen zu stärken.
- Completed $8.4 million capital raise to fund strategic initiatives
- Reverse split may attract institutional investors
- No fractional shares - all rounded up to benefit shareholders
- 1-for-30 reverse split indicates significant share price decline
- Reverse split reduces number of tradable shares, potentially affecting liquidity
Insights
The announcement of Newton Golf's 1-for-30 reverse stock split signals significant concerns about the company's market position. With a current share price of
While management frames this as a strategic move to attract institutional investors, the extreme ratio suggests a more urgent situation. Most healthy companies implement reverse splits at much lower ratios (1-for-2 to 1-for-10). The
The simultaneous name change from Sacks Parente Golf to Newton Golf, while positioned as a branding refresh, often accompanies restructuring efforts to create psychological distance from past performance issues. For existing shareholders, this split will automatically adjust their holdings without requiring action, but represents significant equity dilution compared to their original investment thesis.
The post-split share price would approximate
Company to trade under new ticker symbol “NWTG” on Nasdaq beginning March 17, 2025
CAMARILLO, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- via IBN – Newton Golf Company (Nasdaq: SPGC) (“Newton Golf” or the “Company”), 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.
In addition, the Company’s 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’s common stock will begin trading on a split-adjusted basis under the new ticker symbol “NWTG” on the Nasdaq Capital Market.
The Meaning Behind Newton Golf
The name Newton Golf pays tribute to Sir Isaac Newton, whose groundbreaking discoveries in physics forever changed our understanding of motion and force—principles that are fundamental to the game of golf. Much like Newton’s 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.
“This name change marks a new chapter in our company’s evolution as we push the boundaries of performance in golf equipment,” said Greg Campbell, Chairman and CEO of Newton Golf Company. “Sir Isaac Newton’s 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.”
Recent Capital Raise and Financial Position
In December 2024, the Company completed an underwritten public offering, raising approximately
Key Details of the Reverse Stock Split
- Every 30 shares of issued and outstanding common stock will automatically convert into one share.
- No fractional shares will be issued; instead, any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share.
- The Company’s common stock will continue to trade on Nasdaq under the ticker symbol “NWTG” with a new CUSIP number assigned upon implementation of the split.
“The reverse stock split is a strategic step that enhances our ability to attract institutional investors and strengthens our position in the public markets,” added Campbell. “We remain focused on executing our long-term growth strategy, expanding our product offerings, and delivering industry-leading innovations.”
No Action Required for Shareholders
The name change and ticker symbol update will not affect the rights of existing shareholders. Similarly, shareholders do not need to take any action regarding the reverse stock split. Their shareholdings will be adjusted automatically, and their existing stock certificates or book- entry positions will be updated accordingly.
Stockholders holding shares through brokerage accounts will have their positions adjusted to reflect the reverse split. For additional details, shareholders are encouraged to contact their broker or the Company’s transfer agent:
Transfer Agent Contact
VStock Transfer, LLC
18 Lafayette Place
Woodmere, NY 11598
Phone: (212) 828-8436
About Newton Golf Company
Newton Golf Company (Nasdaq: SPGC) is a technology-driven golf company dedicated to revolutionizing the sport with cutting-edge, high- performance products. The Company’s expanding portfolio includes innovative golf shafts, putters, grips, and other golf-related accessories designed for golfers of all skill levels. With a commitment to superior craftsmanship and performance, Newton Golf continues to push the boundaries of golf technology. The Company’s manufacturing facility in St. Joseph, Missouri, ensures elite quality control, with all products made and assembled in the USA. For more information, please visit the Company’s website at www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the future financial performance of Newton Golf Company (the “Company”) and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.
In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "expects," "plans," "anticipates," "intends," "believes," "estimates," "projects," "potential," "continues," or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the reverse stock split, the Company’s ability to maintain compliance with Nasdaq listing requirements, the potential for increased institutional investor interest, the Company’s future growth strategy, expansion of its product portfolio, anticipated financial performance, and future business prospects.
These forward-looking statements reflect the Company’s current expectations and projections based on information available as of the date of this release and are subject to a number of risks and uncertainties, including, but not limited to, general economic, financial, and business conditions; changes in consumer demand and industry trends; the Company’s ability to successfully implement its strategic initiatives; competition in the golf equipment market; supply chain disruptions; regulatory compliance and legal proceedings; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
The Company cautions investors that forward-looking statements are not guarantees of future performance and actual results may differ materially from those projected. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Company Contact:
Newton Golf Company
551 Calle San Pablo
Camarillo, CA 93012
https://newtongolfco.com/
Investor Contact:
Scott McGowan
InvestorBrandNetwork (IBN)
Phone: 310.299.1717
ir@newtongolfco.com
FAQ
What is the conversion ratio for Newton Golf's (SPGC) reverse stock split in March 2025?
When will SPGC stock begin trading under the new NWTG ticker symbol?
How much capital did Newton Golf (SPGC) raise in its December 2024 public offering?
Do SPGC shareholders need to take any action regarding the reverse stock split?
