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Sacks Parente Golf, Inc. (symbol: SPGC) is a pioneering technology-first golf company dedicated to enhancing the golfing experience for players of all skill levels. The company excels in designing, manufacturing, and marketing advanced golf equipment, including putting instruments, golf shafts, and golf grips. Their product range is meticulously crafted to meet the needs of both amateur and professional golfers.
Sacks Parente Golf's innovation-driven approach is evident in their diverse product portfolio. The company’s putting instruments are engineered for precision and performance, contributing to better game outcomes. Additionally, their state-of-the-art golf shafts and golf grips are designed to offer superior control and comfort, enhancing the overall golfing experience.
Recently, Sacks Parente Golf has made strides with their Newton Golf shafts. These shafts are available with adjustable driver and fairway wood adaptors, compatible with heads from most major golf equipment brands. They have reinforced the tip area of the Newton Motion Fairway Wood shafts to endure the impact from shots on hard-packed fairways, a testament to their commitment to quality and durability.
The company is also actively engaging with the golf community through strategic partnerships and media outreach. For instance, Beth Gast from BG Public Relations manages media relations, while investor communications are handled by CORE IR. This ensures that stakeholders remain well-informed about company developments and achievements.
Financially, Sacks Parente Golf is positioned to expand its market share and innovate within the industry. With a strong foundation and forward-looking strategies, the company aims to continue delivering exceptional products that elevate the sport of golf.
Sacks Parente Golf, Inc. (Nasdaq: SPGC), a technology-forward golf company, announces its participation in the Investor Summit Summer 2024 Virtual Conference on August 20, 2024. Greg Campbell, Executive Chairman, will present a corporate overview and be available for one-on-one meetings.
SPG offers a growing portfolio of innovative golf products, including putters, golf shafts, grips, and accessories. The company's achievements include the First Vernier Acuity putter, patented Ultra-Low Balance Point technology, and pioneering ultra-light carbon fiber putter shafts. In April 2022, SPG expanded its manufacturing capabilities with a new shaft facility in St. Joseph, MO, developing the premium Newton brand of golf shafts.
The company aims to manufacture and assemble most products in the USA while exploring growth opportunities in golf apparel and related product lines. SPG currently sells through resellers, websites, Club Champion stores, and distributors in the US, Japan, and South Korea.
Newton Golf Shafts, a division of Sacks Parente Golf, Inc. (Nasdaq: SPGC), has been named the Official Driver Shaft of the 2024 World Long Drive Championship. This partnership grants Newton Golf Shafts exclusive rights in the golf shaft category and prominent brand presence at the event. The championship, featuring golfers competing to be the world's Long Drive champion, will be held from August 8-11, 2024, at Eagles Landing Country Club in Atlanta, Georgia.
Newton Golf Shafts, launched in November 2023, has already gained popularity among top PGA TOUR Champions players. The event will be broadcasted on The Golf Channel and ESPN+, providing significant exposure for the brand. This collaboration aligns with both organizations' commitment to innovation and excellence in golf.
Sacks Parente Golf, Inc. (NASDAQ: SPGC) reported strong financial results for Q2 2024. Revenue increased 132% sequentially to $813,000, driven by sales of higher-margin Newton shafts. Gross margin remained steady at 60%. The company saw a significant increase in orders from Club Champion and expanded its Newton Golf Shaft division with the addition of the Newton Motion Fairway Wood shaft.
Sacks Parente introduced a Weekly Driver Performance Pool program for PGA TOUR Champions players using their Newton Motion driver shafts. Executive Chairman Greg Campbell noted continued momentum in Q3, with revenue expected to accelerate sequentially. The company's advertising efforts have paid off, leading to increased brand recognition and positive feedback from both professional and amateur golfers.
Sacks Parente Golf Company (Nasdaq: SPGC) has announced a 1-for-10 reverse stock split effective July 30, 2024. This strategic move aims to increase the stock price and maintain Nasdaq listing compliance. Key points:
- Trading on a split-adjusted basis begins July 30, 2024
- Every 10 shares will combine into one share
- Par value remains $0.001 per share
- Proportional adjustments to equity awards, options, and warrants
- No fractional shares; all rounded up to nearest whole share
- VStock Transfer, serving as exchange agent
The split is designed to meet Nasdaq's $1.00 minimum bid price requirement and doesn't require action from shareholders holding shares electronically or in street name.
Sacks Parente Golf Company (Nasdaq: SPGC) has announced a 1-for-10 reverse stock split of its common stock, effective July 30, 2024. This strategic move aims to increase the price per share and maintain compliance with Nasdaq's $1.00 minimum bid price requirement. Key points include:
- Trading on a split-adjusted basis begins July 30, 2024
- Every 10 shares will combine into one share
- Par value remains $0.001 per share
- Proportional adjustments to equity awards, options, and warrants
- No fractional shares; cash payments for fractional interests
- VStock Transfer, serving as exchange agent
- Automatic adjustments for brokerage accounts
Sacks Parente Golf Company (Nasdaq: SPGC) has launched a Weekly Performance Pool for PGA TOUR Champions players using Newton Motion driver shafts. This program allows participants to compete for prize money based on their performance with the Newton Motion shaft in their driver at any tournament. The initiative aims to enhance camaraderie among players using the shaft. Notably, Doug Barron's recent major championship win with the shaft has boosted its credibility. Participation is open to all PGA TOUR Champions players who notify the company and exclusively use the Newton Motion shaft in their driver. Current participants include eight players such as Ken Duke and Fred Funk. The Newton Motion shafts feature four key technologies and are available at newtonshafts.com.
Newton Golf Shafts, a division of Sacks Parente Golf, announced Doug Barron's first major championship win on the PGA TOUR Champions using a Newton Motion shaft. Barron clinched victory at the Regions Tradition tournament with a two-stroke lead and a final round score of 68. His driving accuracy was 72% with a longest drive of 301 yards.
Barron's success, aided by the Newton Motion shaft, has boosted his standing to fifth in the Charles Schwab Cup rankings. Newton Golf Shafts' innovative design and technology, including Elongated Bend Profile and Kinetic Storage Construction, contributed to this achievement. The Newton shaft is recognized for promoting straighter and longer shots with reduced effort. Newton Shafts are also used by other PGA TOUR Champions members.
Sacks Parente Golf, Inc. (NASDAQ: SPGC) reported a revenue of $350k in the first quarter of 2024, surpassing the entire revenue of FY2023. The company expects April 2024 to be a record revenue month and projects a 100% sequential growth in 2Q24. Sacks Parente expanded its Newton Golf Shaft division and introduced innovative programs to drive revenue growth. The company's premium putters and Newton Motion driver shafts are now available in 126 Club Champion retail stores nationwide. Player agreements for Newton Motion shaft sponsorships have been made with notable golf professionals. Sacks Parente appointed golf-industry veteran Jane Casanta to its Board of Directors.
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