Newton Golf Company, the manufacturer of putters, golf shafts, golf grips, and other golf-related accessories, has announced that its Board of Directors approved a share repurchase authorization of up to $1 million of its common stock, effective January 31, 2025, and expiring January 31, 2026.
The company may repurchase the shares in open market transactions, privately negotiated transactions or a combination of both. Share repurchases are subject to the company’s discretion based on market conditions, business considerations, legal requirements, and other factors. There is no guarantee as to the number of shares it could repurchase, and the repurchase program may be extended, suspended or discontinued without prior notice at the company’s discretion.
“Our share repurchase authorization reflects the confidence we have in our business, our outlook for continued growth and a path to breakeven. Growing adoption of our Newton Motion replacement shafts is a significant factor that provides us the flexibility and discretion to repurchase our common stock,” commented Newton Golf Executive Chairman Greg Campbell.
Newton Golf, a Sacks Parente Company, is a tech-focused golf company. Its product line includes the first Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and ultra-light carbon fiber putter shafts.
Considering its growth opportunities in golf shaft technologies, the company expanded its manufacturing business in April of 2022 to develop the Newton brand of golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. The company intends to manufacture and assemble substantially all products in the United States while expanding into golf apparel and other golf-related product lines.
The company’s future expansions could include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand.
The company sells its products through resellers, its own websites, Club Champion retail stores, and distributors in the United States, Japan and South Korea.
Image courtesy Newton Golf
