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    • UPDATED – Sacks Parente Announces 1-For-10 Reverse Stock Split
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    UPDATED – Sacks Parente Announces 1-For-10 Reverse Stock Split

    Vaseline Posted on





    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) ha annunciato un consolidamento azionario 1-per-10 che entrerà in vigore il 30 luglio 2024. Questa mossa strategica mira ad aumentare il prezzo delle azioni e mantenere la conformità con le normative di quotazione del Nasdaq. Punti chiave:

    • Il trading basato sull’adeguamento delle azioni inizia il 30 luglio 2024
    • Ogni 10 azioni verrà combinato in un’unica azione
    • Il valore nominale rimane $0.001 per azione
    • Adattamenti proporzionali per premi azionari, opzioni e warrant
    • Nessuna azione frazionaria; tutte arrotondate all’azione intera più vicina
    • VStock Transfer funge da agente di scambio

    Il consolidamento è progettato per soddisfare il requisito di prezzo minimo di offerta di $1.00 del Nasdaq e non richiede azioni da parte degli azionisti che detengono azioni elettronicamente o in nome della strada.

    Sacks Parente Golf Company (Nasdaq: SPGC) ha anunciado un consolidación de acciones 1 por 10 que entrará en vigencia el 30 de julio de 2024. Este movimiento estratégico tiene como objetivo aumentar el precio de las acciones y mantener el cumplimiento de la lista del Nasdaq. Puntos clave:

    • El comercio basado en la adecuación de la consolidación comienza el 30 de julio de 2024
    • Cada 10 acciones se combinarán en una acción
    • El valor nominal se mantiene en $0.001 por acción
    • Ajustes proporcionales a premios de acciones, opciones y warrants
    • Sin acciones fraccionarias; todas redondeadas a la acción entera más cercana
    • VStock Transfer actúa como agente de intercambio

    La consolidación está diseñada para cumplir con el requisito de precio mínimo de oferta de $1.00 del Nasdaq y no requiere acción por parte de los accionistas que tenhan acciones electrónicamente o en nombre de la calle.

    삭스 파렌트 골프 컴퍼니 (Nasdaq: SPGC)가 1대 10 주식 분할을 2024년 7월 30일부터 시행한다고 발표했습니다. 이 전략적 조치는 주가를 높이고 나스닥 상장 규정을 유지하기 위한 것입니다. 주요 사항:

    • 분할 조정 기초 거래는 2024년 7월 30일부터 시작됩니다
    • 10주가 하나의 주식으로 합쳐집니다
    • 주당 액면가는 $0.001로 유지됩니다
    • 주식 인정, 옵션 및 워런트에 비례 조정이 이루어집니다
    • 분할 주식은 없으며, 모두 가장 가까운 정수 주식으로 반올림됩니다
    • VStock Transfer가 교환 대리인으로 활동합니다

    이번 분할은 나스닥의 최소 제안 가격 $1.00 요구 사항을 충족하기 위해 설계되었으며, 전자 또는 거리 명의로 주식을 보유한 주주로부터 특별한 조치를 요구하지 않습니다.

    Sacks Parente Golf Company (Nasdaq: SPGC) a annoncé un fractionnement d’actions inversé 1 pour 10 entrant en vigueur le 30 juillet 2024. Ce mouvement stratégique vise à augmenter le prix des actions et à maintenir la conformité avec les exigences de cotation du Nasdaq. Points clés :

    • Le trading basé sur le fractionnement commence le 30 juillet 2024
    • Chaque 10 actions seront combinées en une seule action
    • La valeur nominale reste de 0,001 $ par action
    • Ajustements proportionnels des primes d’actions, options et warrants
    • Aucune action fractionnaire ; tout sera arrondi à l’action entière la plus proche
    • VStock Transfer agissant en tant qu’agent d’échange

    Le fractionnement est conçu pour satisfaire le critère de prix d’offre minimal de 1,00 $ du Nasdaq et ne nécessite pas d’action de la part des actionnaires détenant des actions électroniquement ou au nom de rue.

    Sacks Parente Golf Company (Nasdaq: SPGC) hat einen 1-zu-10 Aktiensplit angekündigt, der am 30. Juli 2024 wirksam wird. Dieser strategische Schritt zielt darauf ab, den Aktienpreis zu erhöhen und die Einhaltung der Nasdaq-Notierungsanforderungen aufrechtzuerhalten. Wichtige Punkte:

    • Der Handel basierend auf der Splittung beginnt am 30. Juli 2024
    • Jede 10 Aktien wird in eine Aktie umgewandelt
    • Nennwert bleibt bei $0.001 pro Aktie
    • Proportionale Anpassungen bei Eigenkapitalprämien, Optionen und Warrants
    • Keine Bruchstücke; alle auf die nächste ganze Aktie aufgerundet
    • VStock Transfer fungiert als Austauschagent

    Der Split ist darauf ausgelegt, die Mindestgebotspreisvorgaben von $1,00 der Nasdaq zu erfüllen und erfordert keine Maßnahmen von Aktionären, die Aktien elektronisch oder im Straßennamen halten.

    Positive


    • Potential to maintain Nasdaq listing compliance


    • No action required from most shareholders for the stock split process


    Negative


    • Indication of struggling stock price, necessitating a reverse split


    • Potential risk of delisting if minimum bid price requirement isn’t met


    Sacks Parente Golf Company’s decision to implement a 1-for-10 reverse stock split is a significant move aimed at addressing its listing compliance issues with Nasdaq. This action is primarily designed to boost the stock price artificially to meet the $1.00 minimum bid requirement, which is important for maintaining its Nasdaq listing.

    From an investor’s perspective, it’s important to note that while the number of shares will decrease, the overall value of one’s holdings should theoretically remain unchanged. However, reverse splits often carry negative connotations in the market, as they’re frequently associated with companies struggling financially or facing delisting threats.

    Key points to consider:

    • The move could potentially improve the stock’s marketability and attract institutional investors who may have been restricted from purchasing low-priced stocks.
    • There’s a risk that the stock price might not maintain its post-split level, potentially leading to further compliance issues down the line.
    • The company’s underlying fundamentals remain unchanged by this corporate action, so investors should focus on SPG’s business performance and growth prospects.

    While this move buys time for Sacks Parente, it doesn’t address the root causes of the low stock price. Investors should closely monitor the company’s financial performance and strategic initiatives in the coming quarters to gauge whether this reverse split will be followed by sustainable growth or if it’s merely a temporary fix.

    The reverse stock split announced by Sacks Parente Golf Company (SPG) is a double-edged sword for the golf equipment market. On one hand, it signals the company’s determination to maintain its Nasdaq listing, which can be seen as a positive commitment to shareholders and market visibility. On the other hand, it raises questions about the company’s current market position and growth trajectory in the competitive golf equipment industry.

    From a market perspective, this move could have several implications:

    • Brand Perception: Reverse splits can sometimes be perceived negatively by retail investors, potentially impacting the brand’s image in the golf community.
    • Market Dynamics: If SPG fails to maintain its stock price post-split, it could lead to reduced investor confidence, potentially affecting its ability to raise capital for future product development or marketing initiatives.
    • Competitive Positioning: The need for a reverse split might suggest that SPG is struggling to gain traction in a market dominated by larger, more established brands. This could impact its ability to negotiate with retailers or attract partnerships.

    It’s important for investors to look beyond this corporate action and evaluate SPG’s product innovation pipeline, market share trends and financial health. The golf equipment market has seen a resurgence post-pandemic and SPG’s ability to capitalize on this trend will be more indicative of its future prospects than this stock split.

    Investors should watch for upcoming quarterly reports to assess whether SPG can leverage this move to strengthen its market position or if it’s merely delaying more fundamental issues.











    CAMARILLO, CA, July 29, 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 $1.00 minimum bid price requirement for continued listing on Nasdaq, among other benefits.

    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 $0.001. Proportional adjustments will be made to the number of shares of common stock issuable upon the exercise of the Company’s equity awards, options, and warrants, as well as the applicable exercise price, and the number of shares authorized and reserved for issuance pursuant to the Company’s equity incentive plans.

    No fractional shares will be issued as a result of the reverse stock split. All fractional shares will be rounded up to the nearest whole share at the Beneficial shareholder level.

    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
    [email protected]

    Investor Contact for SPG:
    CORE IR
    516-222-2560
    [email protected]









    FAQ



    When will Sacks Parente Golf Company’s (SPGC) 1-for-10 reverse stock split take effect?


    The 1-for-10 reverse stock split for Sacks Parente Golf Company (SPGC) will become effective on July 30, 2024, at 12:01 am Eastern Time.


    What is the purpose of SPGC’s reverse stock split?


    The primary purpose of SPGC’s reverse stock split is to increase the stock price to meet Nasdaq’s $1.00 minimum bid price requirement for continued listing.


    How will SPGC’s reverse stock split affect shareholders?


    Every 10 shares of SPGC common stock will be combined into one share. Fractional shares will be rounded up to the nearest whole share. Most shareholders won’t need to take any action.


    Will SPGC’s stock symbol change after the reverse split?


    No, SPGC will continue to trade under its existing ticker symbol ‘SPGC’ on the Nasdaq Capital Market after the reverse stock split.





    Vaseline
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