Newton Golf Company Announces Name Change and 1-for-30 Reverse Stock Split
Newton Golf Company (Nasdaq: SPGC) announces two major corporate changes: a 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, aligning with the company's focus on physics-driven golf equipment innovation. In December 2024, the company raised $8.4 million in gross proceeds through an underwritten public offering to support strategic initiatives and product development.
The reverse stock split will automatically convert every 30 shares of common stock into one share, with fractional shares rounded up. Shareholders are not required to take any action as their holdings will be automatically adjusted through their brokers or the company's transfer agent, VStock Transfer.
Newton Golf Company (Nasdaq: SPGC) annuncia due importanti cambiamenti aziendali: un cambio di nome da Sacks Parente Golf e un frazionamento azionario inverso 1-per-30, entrambi efficaci dal 17 marzo 2025. L'azienda sarà quotata con il nuovo simbolo ticker NWTG sul Nasdaq Capital Market.
Il rebranding in Newton Golf rende omaggio a Sir Isaac Newton, allineandosi con l'attenzione dell'azienda sull'innovazione degli attrezzi da golf guidata dalla fisica. Nel dicembre 2024, l'azienda ha raccolto $8,4 milioni in proventi lordi tramite un'offerta pubblica garantita per sostenere iniziative strategiche e lo sviluppo di prodotti.
Il frazionamento azionario inverso convertirà automaticamente ogni 30 azioni ordinarie in un'azione, con le azioni frazionarie arrotondate per eccesso. Gli azionisti non sono tenuti a intraprendere alcuna azione poiché le loro partecipazioni saranno automaticamente adeguate tramite i loro broker o l'agente di trasferimento dell'azienda, VStock Transfer.
Newton Golf Company (Nasdaq: SPGC) anuncia dos cambios corporativos importantes: un cambio de nombre de Sacks Parente Golf y una división inversa de acciones 1 por 30, ambos efectivos a partir del 17 de marzo de 2025. La compañía cotizará bajo el nuevo símbolo de ticker NWTG en el Nasdaq Capital Market.
El cambio de marca a Newton Golf rinde homenaje a Sir Isaac Newton, alineándose con el enfoque de la compañía en la innovación de equipos de golf impulsada por la física. En diciembre de 2024, la compañía recaudó $8.4 millones en ingresos brutos a través de una oferta pública garantizada para apoyar iniciativas estratégicas y el desarrollo de productos.
La división inversa de acciones convertirá automáticamente cada 30 acciones ordinarias en una acción, con acciones fraccionarias redondeadas hacia arriba. Los accionistas no están obligados a tomar ninguna acción, ya que sus participaciones se ajustarán automáticamente a través de sus corredores o el agente de transferencia de la compañía, VStock Transfer.
뉴턴 골프 회사 (Nasdaq: SPGC)는 두 가지 주요 기업 변경 사항을 발표했습니다: Sacks Parente Golf에서 이름을 변경하고 1대 30의 역 분할을 실시하며, 두 가지 모두 2025년 3월 17일부터 시행됩니다. 회사는 Nasdaq Capital Market에서 새로운 티커 기호 NWTG로 거래될 것입니다.
뉴턴 골프로의 리브랜딩은 아이작 뉴턴 경에게 경의를 표하며, 회사의 물리학 기반 골프 장비 혁신에 대한 초점과 일치합니다. 2024년 12월에 회사는 전략적 이니셔티브 및 제품 개발을 지원하기 위해 보증된 공모를 통해 $8.4 백만의 총 수익을 올렸습니다.
역 분할은 자동으로 30주를 1주로 변환하며, 분할 주식은 올림 처리됩니다. 주주들은 자신의 보유 주식이 브로커나 회사의 이전 대리인인 VStock Transfer를 통해 자동으로 조정되므로 별도의 조치를 취할 필요가 없습니다.
Newton Golf Company (Nasdaq: SPGC) annonce deux changements majeurs 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. La société sera cotée sous le nouveau symbole boursier NWTG sur le Nasdaq Capital Market.
Le rebranding en Newton Golf rend hommage à Sir Isaac Newton, en accord avec l'accent mis par l'entreprise sur l'innovation d'équipements de golf guidée par la physique. En décembre 2024, la société a levé 8,4 millions de dollars de produits bruts par le biais d'une offre publique souscrite pour soutenir des initiatives stratégiques et le développement de produits.
Le regroupement d'actions convertira automatiquement chaque 30 actions ordinaires en une action, les actions fractionnaires étant arrondies à l'unité supérieure. Les actionnaires ne sont pas tenus de prendre des mesures, car leurs participations seront automatiquement ajustées par l'intermédiaire de leurs courtiers ou de l'agent de transfert de la société, VStock Transfer.
Newton Golf Company (Nasdaq: SPGC) kündigt zwei wichtige Unternehmensänderungen an: eine Namensänderung von Sacks Parente Golf und einen 1-zu-30-Rückwärtssplit, der am 17. März 2025 in Kraft tritt. Das Unternehmen wird unter dem neuen Tickersymbol NWTG am Nasdaq Capital Market gehandelt.
Die Umbenennung in Newton Golf ehrt Sir Isaac Newton und steht im Einklang mit dem Fokus des Unternehmens auf physikbasierte Innovationen im Golfausrüstungsbereich. Im Dezember 2024 hat das Unternehmen 8,4 Millionen US-Dollar an Bruttoerlösen durch eine garantierte öffentliche Angebotserhöhung zur Unterstützung strategischer Initiativen und Produktentwicklung gesammelt.
Der Rückwärtssplit wird automatisch jede 30 Stammaktien in eine Aktie umwandeln, wobei Bruchstücke aufgerundet werden. Aktionäre sind nicht verpflichtet, Maßnahmen zu ergreifen, da ihre Bestände automatisch über ihre Broker oder den Übertragungsagenten des Unternehmens, VStock Transfer, angepasst werden.
- Raised $8.4 million in gross proceeds through December 2024 public offering
- Reverse stock split may attract institutional investors
- Strategic rebranding aligns with company's technological focus
- 1-for-30 reverse stock split indicates significant share price decline
- Reverse split reduces total outstanding shares, potentially affecting liquidity
Insights
Newton Golf's announcement of a 1-for-30 reverse stock split represents a significant corporate restructuring that warrants careful investor attention. With the current share price at
The recent capital raise of
Reverse splits of this magnitude (1-for-30) are rarely implemented from positions of strength. While management frames this as strategic positioning to attract institutional investors, such dramatic consolidations typically signal underlying financial challenges. The rebranding to Newton Golf simultaneously attempts to reposition the company with a more premium, physics-based identity that distances itself from its previous market perception.
The rounding up of fractional shares is a minor positive for small shareholders, but doesn't materially change the overall outlook. Investors should recognize that while this restructuring doesn't directly change the company's fundamental business prospects, the market often reacts negatively to such steep reverse splits due to their historical association with struggling enterprises.
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
When will Newton Golf Company's (SPGC) reverse stock split and ticker change take effect?
How much capital did SPGC raise in their December 2024 public offering?
What happens to SPGC shareholders' stocks during the 1-for-30 reverse split?
Why is Sacks Parente Golf (SPGC) changing its name to Newton Golf Company?
