TruGolf Holdings, Inc. has filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock split of its Class A common stock. The reverse stock split will take effect at 12:01 a.m. (EST) on June 23, 2025, and the company’s Class A common stock will open for trading on The Nasdaq Capital Market on June 23, 2025 on a post-split basis, under the existing ticker symbol TRUG but with a new CUSIP number 243733409.
As a result of the reverse stock split, every fifty shares of the provider of golf simulator software and hardware’s Class A common stock issued and outstanding prior to the opening of trading on June 23, 2025, will be consolidated into one issued and outstanding share. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the company’s outstanding equity awards, as applicable, as well as to the number of shares issuable under the company’s equity incentive plans.
The Class A common stock issued under the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not affect the number of authorized shares of Class A common stock or the par value of the Class A common stock. No fractional shares will be issued if, as a result of the reverse stock split, a stockholder becomes entitled to a fractional share because the number of shares of Class A common stock they hold before the reverse stock split is not evenly divisible by the split ratio. Instead, the stockholder will be entitled to receive a cash payment in lieu of a fractional share.
As a result of the reverse stock split, the number of shares of Class A common stock outstanding will be reduced from approximately 40.5 million shares to approximately 0.8 million shares, and the number of authorized shares of Class A common stock will remain at 650 million shares.
Image courtesy TruGolf Holdings, Inc.
