Sacks Parente Announces 1-For-10 Reverse Stock Split
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
La Sacks Parente Golf Company (Nasdaq: SPGC) ha annunciato un raggruppamento di azioni 1-per-10 delle sue azioni ordinarie, operativo dal 30 luglio 2024. Questa mossa strategica mira ad aumentare il prezzo per azione e a mantenere la conformità con il requisito di prezzo minimo di offerta di $1.00 di Nasdaq. I punti chiave includono:
- Inizio della negoziazione su base rettificata per il frazionamento dal 30 luglio 2024
- Ogni 10 azioni si unirà in una sola azione
- Il valore nominale rimane a $0.001 per azione
- Rettifiche proporzionali a premi azionari, opzioni e warrant
- Nessuna frazione di azioni; pagamenti in contanti per interessi frazionari
- VStock Transfer, che funge da agente di scambio
- Rettifiche automatiche per conti di intermediazione
La Sacks Parente Golf Company (Nasdaq: SPGC) ha anunciado un convenio de acciones 1 por 10 de sus acciones ordinarias, que entrará en vigencia el 30 de julio de 2024. Este movimiento estratégico tiene como objetivo aumentar el precio por acción y mantener el cumplimiento con el requisito de precio mínimo de oferta de $1.00 de Nasdaq. Los puntos clave incluyen:
- La negociación en una base ajustada por el desdoblamiento comienza el 30 de julio de 2024
- Cada 10 acciones se combinará en una acción
- El valor nominal permanece en $0.001 por acción
- Ajustes proporcionales a premios de acciones, opciones y warrants
- No habrá acciones fraccionarias; pagos en efectivo por intereses fraccionarios
- VStock Transfer, que sirve como agente de intercambio
- Ajustes automáticos para cuentas de corretaje
색스 패렌트 골프 컴퍼니 (Nasdaq: SPGC)는 2024년 7월 30일부터 시행되는 10대 1의 역분할을 발표했습니다. 이 전략적 조치는 주당 가격을 인상하고 Nasdaq의 최소 호가 요구사항인 $1.00를 준수하기 위함입니다. 주요 사항은 다음과 같습니다:
- 조정된 기준으로 거래는 2024년 7월 30일부터 시작됩니다
- 10주가 1주로 합쳐집니다
- 액면가는 주당 $0.001로 유지됩니다
- 주식 보상, 옵션 및 워런트에 대한 비례 조정
- 분할 주식 없음; 분할 주식에 대한 현금지급
- VStock Transfer, 교환 대행사 역할
- 중개인 계좌에 대한 자동 조정
La Sacks Parente Golf Company (Nasdaq: SPGC) a annoncé un fractionnement inversé d'actions 1 pour 10 de ses actions ordinaires, prenant effet le 30 juillet 2024. Ce mouvement stratégique vise à augmenter le prix par action et à maintenir la conformité avec l'exigence de prix minimum de $1.00 de Nasdaq. Les points clés incluent :
- La négociation sur une base ajustée au fractionnement commence le 30 juillet 2024
- Chaque 10 actions sera regroupée en une seule action
- La valeur nominale reste à $0,001 par action
- Ajustements proportionnels pour les récompenses en actions, options et bons de souscription
- Pas d'actions fractionnaires ; paiements en espèces pour intérêts fractionnaires
- VStock Transfer, agissant en tant qu'agent d'échange
- Ajustements automatiques pour les comptes de courtage
Die Sacks Parente Golf Company (Nasdaq: SPGC) hat einen 1-für-10 Rücksplit ihrer Stammaktien angekündigt, der am 30. Juli 2024 wirksam wird. Dieser strategische Schritt zielt darauf ab, den Preis pro Aktie zu erhöhen und die Einhaltung der Mindestgebotspreisanforderung von $1,00 der Nasdaq aufrechtzuerhalten. Die wichtigsten Punkte umfassen:
- Der Handel auf einer split-adjustierten Basis beginnt am 30. Juli 2024
- Jede 10 Aktien werden zu einer Aktie zusammengelegt
- Der Nennwert bleibt bei $0,001 pro Aktie
- Proportionale Anpassungen bei Eigenkapitalvergütungen, Optionen und Warrants
- Keine Bruchteile von Aktien; Barzahlungen für bruchteilige Anteile
- VStock Transfer, der als Austauschagent fungiert
- Automatische Anpassungen für Brokerage-Konten
- Potential to maintain Nasdaq listing compliance
- Increased share price may attract institutional investors
- Reduction in total number of outstanding shares
- Potential short-term market volatility
- Cash payments for fractional shares may result in minor capital loss for some investors
A reverse stock split, especially one at a ratio of 1-for-10, is a significant event for any company. It typically indicates that the company is facing challenges in maintaining its stock price above the minimum required by the exchange—in this case, Nasdaq's $1.00 minimum bid price requirement. This move can be seen as a defensive measure to avoid delisting.
For retail investors, this is a critical indicator of the company's current financial health and market position. While the reverse split will proportionately increase the stock price, it does not add intrinsic value to the company. Investors should be cautious about the underlying issues that necessitated this move. It might be a signal that the company is struggling to maintain its market value and such actions can sometimes precede further financial troubles.
Additionally, the reverse split might lead to reduced liquidity in the stock as the number of shares in the market is drastically reduced. This could make it harder to buy or sell shares without affecting the market price.
From a market dynamics perspective, a reverse stock split can have mixed implications. On one hand, it may temporarily boost the stock price, enabling the company to meet listing requirements and stay on Nasdaq. The psychological effect of a higher stock price can also sometimes attract institutional investors who have investment mandates that prevent them from buying low-priced stocks.
However, investors should be wary that the underlying business fundamentals haven't changed. The company's value isn't enhanced by this move alone. Long-term investors will be more interested in the company's growth prospects, revenue generation and profitability, which are not directly impacted by a reverse stock split. Therefore, while the split addresses certain immediate issues, it does not resolve any fundamental business challenges.
Retail investors should watch for subsequent quarterly earnings reports and any strategic initiatives the company announces to gauge the real impact of this move on the company's future performance.
CAMARILLO, CA, July 24, 2024 (GLOBE NEWSWIRE) -- Sacks Parente Golf Company, Inc. (Nasdaq: SPGC) (“SPG” or the “Company”), a technology forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other related accessories, announces that its board of directors has approved a 1-for-10 reverse stock split of the Company’s common stock.
The reverse stock split will become effective on July 30, 2024 at 12:01 am, Eastern Time, (“Effective Time”) and the Company’s common stock is expected to begin trading on a reverse stock split-adjusted basis on The Nasdaq Capital Market (“Nasdaq”) on July 30, 2024 at market open under the existing ticker symbol, “SPGC.” The reverse stock split is intended to increase the price per share of the Company’s common stock to allow the Company to demonstrate compliance with the
As of the Effective Time, every 10 shares of the Company’s issued and outstanding common stock will be combined into one share of common stock. The par value per share of our common stock will remain unchanged at
No fractional shares will be issued as a result of the reverse stock split; rather, the Company will issue a cash payment equal to the value of the fractional shares, so no stockholder will hold fractional shares following the reverse stock split.
The Company’s transfer agent, VStock Transfer, LLC, will serve as the exchange agent for the reverse stock split. Registered stockholders holding pre-reverse stock split shares of common stock electronically in book-entry form are not required to take any action to receive post-reverse stock split shares. Those stockholders who hold their shares in brokerage accounts or in “street name” will have their positions automatically adjusted to reflect the reverse stock split, subject to each broker’s particular processes, and will not be required to take any action in connection with the reverse stock split.
About Sacks Parente Golf
Sacks Parente Golf, Inc. serves as the parent entity of technology-forward golf companies that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.
In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.
The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea. For more information, please visit the Company’s website at https://sacksparente.com/.
Media Contact for SPG:
Beth Gast
BG Public Relations
beth.gast@bgpublicrelations.com
Investor Contact for SPG:
CORE IR
516-222-2560
investors@sacksparente.com
![](https://ml.globenewswire.com/media/NGExMGRlZmYtMzVjNi00YjNiLTgyMjctMWJmZGEyODUyNzE1LTUwMDExODAyOA==/tiny/Sacks-Parente-Golf-Inc-.png)
FAQ
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