TruGolf Holdings receives Nasdaq extension for compliance, transferring to Capital Market effective June 3, 2025. CEO expresses commitment to meet requirements.
Quiver AI Summary
TruGolf Holdings, Inc. announced that the Nasdaq Hearings Panel has granted an extension for the company to comply with listing rules, with their listing moving to the Capital Market starting June 3, 2025. CEO Chris Jones expressed satisfaction with the decision and emphasized the company's commitment to meeting Nasdaq requirements in order to avoid a reverse stock split by achieving compliance organically. TruGolf is recognized as a leader in golf technology, focusing on innovative solutions to enhance the game through AI and gamified improvement plans. The company aims to continue redefining golf through its range of products. The release also includes standard forward-looking statements regarding risks and uncertainties.
Potential Positives
- The Nasdaq Hearings Panel granted TruGolf Holdings an extension to comply with listing requirements, which indicates a positive response to the company's situation.
- The company’s listing will be transferred to the Nasdaq Capital Market, allowing continued access to public capital while working towards compliance.
- TruGolf's commitment to avoiding a reverse stock split demonstrates proactive management and focus on maintaining shareholder value.
- There is an emphasis on innovative technology and a strategic plan for compliance, suggesting growth potential and leadership in the golf technology industry.
Potential Negatives
- The company's transfer to the Capital Market indicates potential financial instability, raising concerns among investors about its compliance with Nasdaq listing requirements.
- The statement about the potential need for a reverse stock split suggests the company's current stock price is below the required $1.00 threshold, which could negatively impact investor confidence.
- There is a significant emphasis on forward-looking statements regarding future compliance and performance, which may imply existing uncertainty and risk that could deter potential investors.
FAQ
What is the Nasdaq Hearings Panel's recent decision for TruGolf?
The Panel granted TruGolf an extension to comply with Nasdaq listing rules, transferring its listing to the Capital Market.
When will TruGolf's listing change take effect?
The listing transfer to the Capital Market will be effective at the open of business on June 3, 2025.
What is the company's plan for Nasdaq compliance?
TruGolf aims to achieve organic NASDAQ compliance of $1.00 to avoid a reverse stock split.
What does TruGolf specialize in?
TruGolf specializes in golf technology, offering innovative hardware, software, and web products to enhance the game of golf.
How can I learn more about TruGolf's innovations?
For more information about TruGolf's products and innovations, visit their website at TruGolf.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TRUG Hedge Fund Activity
We have seen 9 institutional investors add shares of $TRUG stock to their portfolio, and 9 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GEODE CAPITAL MANAGEMENT, LLC added 121,153 shares (+283.4%) to their portfolio in Q1 2025, for an estimated $42,645
- TABOR ASSET MANAGEMENT, LP added 47,379 shares (+inf%) to their portfolio in Q1 2025, for an estimated $16,677
- HRT FINANCIAL LP removed 41,412 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $27,804
- POLAR ASSET MANAGEMENT PARTNERS INC. removed 36,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $24,170
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 25,481 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $8,969
- RENAISSANCE TECHNOLOGIES LLC removed 17,684 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $6,224
- JANE STREET GROUP, LLC added 17,421 shares (+inf%) to their portfolio in Q1 2025, for an estimated $6,132
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Salt Lake City, Utah, June 02, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, today announced that the Nasdaq Hearings Panel has granted the company an extension of time to comply with Nasdaq listing rules subject to panel conditions. The Company’s listing will be transferred to the Capital Market, effective at the open of business on June 3, 2025.
Chris Jones, TruGolf’s CEO, said: “We are very pleased with the Panel’s decision and appreciate the fair hearing we received. The Company is committed to executing our plan to meet the various Nasdaq listing requirements required by the Panel. We will utilize every available tool to achieve organic NASDAQ compliance of $1.00 to avoid a reverse stock split if possible.”
About TruGolf Holdings
TruGolf is a golf technology company, committed to making golf easy. From innovative uses for AI to build content and enhance its image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since its founding, TruGolf has redefined what is possible in golf through technology. TruGolf’s suite of Hardware, Software, and Web Products make it easier to Play, Improve, and Enjoy the game of golf.
Forward-Looking Statements
Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements include, without limitation, the timing and the amount of shares that may be repurchased under the plan. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC’s website, www.sec.gov .
For more information about our products and upcoming innovations, please visit TruGolf.com.
Media Contacts:
TruGolf: Michael Bacal: Phone: 917-886-9071; [email protected] Web: TruGolf.com LinkedIn: @TruGolf
