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[8-K] TruGolf Holdings, Inc. Reports Material Event

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Rhea-AI Filing Summary

TruGolf Holdings, Inc. (Nasdaq: TRUG) has executed a 1-for-50 reverse stock split of its common stock. Stockholders granted the Board discretionary authority at a May 30, 2025 special meeting to implement a split within a 1-for-5 to 1-for-75 range. The Board selected a 1-for-50 ratio, filed an amendment to the certificate of incorporation with the Delaware Secretary of State, and made the split effective at 12:01 a.m. ET on June 23, 2025.

Every fifty issued and outstanding shares automatically combined into one share with no change to the $0.0001 par value. Class A shares outstanding decline from roughly 40.5 million to 0.81 million, and Class B shares drop from about 10 million to 0.2 million. The authorized share count remains 660 million (650 million Class A, 10 million Class B).

Outstanding stock options and plan reserves are being proportionally adjusted. Fractional shares will not be issued; holders will receive cash equal to the average closing price of TRUG for the five trading days before the split multiplied by the fractional entitlement.

Post-split shares began trading on a split-adjusted basis on June 23, 2025 under the unchanged ticker "TRUG" and a new CUSIP 243733409. A summary of the amendment is attached as Exhibit 3.1; a related press release dated June 18, 2025 is filed as Exhibit 99.1.

TruGolf Holdings, Inc. (Nasdaq: TRUG) ha effettuato un frazionamento inverso delle azioni ordinarie con rapporto 1 per 50. Gli azionisti hanno conferito al Consiglio di Amministrazione l'autorità discrezionale durante l'assemblea straordinaria del 30 maggio 2025 per attuare un frazionamento in un intervallo da 1 per 5 a 1 per 75. Il Consiglio ha scelto il rapporto 1 per 50, ha depositato una modifica al certificato di incorporazione presso il Segretario di Stato del Delaware e ha reso effettivo il frazionamento alle 12:01 a.m. ET del 23 giugno 2025.

Ogni cinquanta azioni emesse e in circolazione sono state automaticamente aggregate in un'unica azione con nessuna modifica al valore nominale di $0,0001. Le azioni di Classe A in circolazione sono diminuite da circa 40,5 milioni a 0,81 milioni, mentre le azioni di Classe B sono scese da circa 10 milioni a 0,2 milioni. Il numero autorizzato di azioni rimane di 660 milioni (650 milioni di Classe A, 10 milioni di Classe B).

Le opzioni azionarie in circolazione e le riserve del piano sono state adeguate proporzionalmente. Le frazioni di azioni non saranno emesse; i detentori riceveranno un pagamento in contanti pari al prezzo medio di chiusura di TRUG nei cinque giorni di negoziazione precedenti il frazionamento, moltiplicato per la quota frazionaria.

Le azioni post-frazionamento hanno iniziato a essere negoziate su base rettificata dal 23 giugno 2025 con il ticker invariato "TRUG" e un nuovo CUSIP 243733409. Un riepilogo della modifica è allegato come Exhibit 3.1; un comunicato stampa correlato datato 18 giugno 2025 è depositato come Exhibit 99.1.

TruGolf Holdings, Inc. (Nasdaq: TRUG) ha realizado una división inversa de acciones común con una proporción de 1 por 50. Los accionistas otorgaron al Consejo de Administración la autoridad discrecional en una reunión especial el 30 de mayo de 2025 para implementar una división dentro del rango de 1 por 5 a 1 por 75. El Consejo seleccionó la proporción de 1 por 50, presentó una enmienda al certificado de incorporación ante el Secretario de Estado de Delaware y la división entró en vigor a las 12:01 a.m. ET del 23 de junio de 2025.

Cada cincuenta acciones emitidas y en circulación se combinaron automáticamente en una acción con sin cambio en el valor nominal de $0.0001. Las acciones Clase A en circulación disminuyeron de aproximadamente 40.5 millones a 0.81 millones, y las acciones Clase B bajaron de cerca de 10 millones a 0.2 millones. El número autorizado de acciones permanece en 660 millones (650 millones Clase A, 10 millones Clase B).

Las opciones de acciones en circulación y las reservas del plan se ajustan proporcionalmente. No se emitirán acciones fraccionarias; los tenedores recibirán efectivo equivalente al precio de cierre promedio de TRUG durante los cinco días hábiles previos a la división multiplicado por el derecho fraccionario.

Las acciones posteriores a la división comenzaron a cotizar con base ajustada a partir del 23 de junio de 2025 bajo el mismo símbolo "TRUG" y un nuevo CUSIP 243733409. Un resumen de la enmienda está adjunto como Exhibit 3.1; un comunicado de prensa relacionado fechado el 18 de junio de 2025 está archivado como Exhibit 99.1.

TruGolf Holdings, Inc. (나스ë‹�: TRUG)ëŠ� ë³´í†µì£¼ì— ëŒ€í•� 1대 50 액면병합ì� 실시하였습니ë‹�. ì£¼ì£¼ë“¤ì€ 2025ë…� 5ì›� 30ì� 특별ì´íšŒì—서 ì´ì‚¬íšŒì— 1대 5ì—서 1대 75 범위 ë‚´ì—ì„� 액면병합ì� 시행í•� ìž¬ëŸ‰ê¶Œì„ ë¶€ì—¬í•˜ì˜€ìŠµë‹ˆë‹�. ì´ì‚¬íšŒëŠ” 1대 50 비율ì� ì„ íƒí•˜ê³ , ë¸ë¼ì›¨ì–´ ì£� 국무장관ì—게 ì •ê´€ ìˆ˜ì •ì•ˆì„ ì œì¶œí•˜ì˜€ìœ¼ë©°, 2025ë…� 6ì›� 23ì� 오전 12ì‹� 1ë¶�(ë™ë¶€ì‹œê°„)ì—� 액면병합ì� 발효시켰습니ë‹�.

발행 ë°� 유통 ì¤‘ì¸ ì£¼ì‹ 50주가 ìžë™ìœ¼ë¡œ 1주로 합병ë˜ì—ˆìœ¼ë©°, ì•¡ë©´ê°€ $0.0001ì€ ë³€ë™ì´ 없습니다. í´ëž˜ìŠ� A 주ì‹ì€ ì•� 4,050ë§� 주ì—ì„� 81ë§� 주로 ê°ì†Œí•˜ì˜€ê³�, í´ëž˜ìŠ� B 주ì‹ì€ ì•� 1,000ë§� 주ì—ì„� 20ë§� 주로 줄었습니ë‹�. 승ì¸ë� ì£¼ì‹ ìˆ˜ëŠ” 6ì–� 6,000ë§� ì£�(í´ëž˜ìŠ� A 6ì–� 5,000ë§� ì£�, í´ëž˜ìŠ� B 1,000ë§� ì£�)ë¡� 유지ë©ë‹ˆë‹�.

발행ë� ì£¼ì‹ ì˜µì…˜ê³� ê³„íš ì¤€ë¹„ê¸ˆë� 비례하여 ì¡°ì •ë©ë‹ˆë‹�. 소수 주ì‹ì€ 발행ë˜ì§€ 않으ë©�, 보유ìžëŠ” 액면병합 ì � 5거래ì¼ê°„ TRUG í‰ê·  종가ì—� 소수 ì§€ë¶„ì„ ê³±í•œ 금액ì� 현금으로 받게 ë©ë‹ˆë‹�.

액면병합 í›� 주ì‹ì€ 2025ë…� 6ì›� 23ì¼ë¶€í„� ì¡°ì •ë� 기준으로 거래ë¥� 시작하였으며, 티커ëŠ� ë³€ê²� ì—†ì´ "TRUG"ë¥� 유지하고 ìƒ� CUSIP 번호 243733409ê°€ 부여ë˜ì—ˆìŠµë‹ˆë‹¤. 수정ì•� ìš”ì•½ì€ Exhibit 3.1ì—� 첨부ë˜ì–´ 있으ë©�, 2025ë…� 6ì›� 18ì¼ìž ê´€ë � ë³´ë„ìžë£ŒëŠ� Exhibit 99.1ë¡� 제출ë˜ì–´ 있습니다.

TruGolf Holdings, Inc. (Nasdaq : TRUG) a réalisé un regroupement d’actions ordinaires au ratio de 1 pour 50. Lors d’une assemblée générale extraordinaire tenue le 30 mai 2025, les actionnaires ont accordé au conseil d’administration le pouvoir discrétionnaire de mettre en œuvre un regroupement dans une fourchette allant de 1 pour 5 à 1 pour 75. Le conseil a choisi un ratio de 1 pour 50, déposé un amendement aux statuts auprès du Secrétaire d’État du Delaware, et le regroupement est devenu effectif à 00h01 (heure de l’Est) le 23 juin 2025.

Toutes les cinquante actions émises et en circulation ont été automatiquement regroupées en une seule action, sans modification de la valeur nominale de 0,0001 $. Le nombre d’actions de classe A en circulation est passé d’environ 40,5 millions à 0,81 million, et celui des actions de classe B de près de 10 millions à 0,2 million. Le nombre d’actions autorisées reste fixé à 660 millions (650 millions de classe A, 10 millions de classe B).

Les options d’achat d’actions en circulation et les réserves du plan sont ajustées proportionnellement. Les fractions d’actions ne seront pas émises ; les détenteurs recevront un paiement en espèces équivalent au cours moyen de clôture de TRUG au cours des cinq jours de bourse précédant le regroupement, multiplié par la fraction détenue.

Les actions post-regroupement ont commencé à être négociées sur une base ajustée à partir du 23 juin 2025 sous le même symbole boursier « TRUG » et un nouveau CUSIP 243733409. Un résumé de l’amendement est joint en annexe 3.1 ; un communiqué de presse daté du 18 juin 2025 est déposé en annexe 99.1.

TruGolf Holdings, Inc. (Nasdaq: TRUG) hat eine 1-zu-50 Reverse-Aktienzusammenlegung seiner Stammaktien durchgeführt. Die Aktionäre erteilten dem Vorstand auf einer außerordentlichen Hauptversammlung am 30. Mai 2025 die Ermächtigung, eine Zusammenlegung im Bereich von 1-zu-5 bis 1-zu-75 durchzuführen. Der Vorstand wählte das Verhältnis 1-zu-50, reichte eine Änderung der Satzung beim Staatssekretär von Delaware ein und setzte die Zusammenlegung zum 23. Juni 2025, 00:01 Uhr ET, in Kraft.

Je fünfzig ausgegebene und ausstehende Aktien wurden automatisch zu einer Aktie zusammengelegt, wobei der Nennwert von 0,0001 $ unverändert blieb. Die ausstehenden Aktien der Klasse A verringerten sich von etwa 40,5 Millionen auf 0,81 Millionen, die der Klasse B von etwa 10 Millionen auf 0,2 Millionen. Die genehmigte Aktienanzahl bleibt bei 660 Millionen (650 Millionen Klasse A, 10 Millionen Klasse B).

Ausstehende Aktienoptionen und Plankonten werden proportional angepasst. Bruchteile von Aktien werden nicht ausgegeben; Inhaber erhalten eine Barauszahlung, die dem durchschnittlichen Schlusskurs von TRUG in den fünf Handelstagen vor der Zusammenlegung multipliziert mit dem Bruchteil entspricht.

Die nach der Zusammenlegung angepassten Aktien begannen am 23. Juni 2025 unter dem unveränderten Tickersymbol „TRUG� und einer neuen CUSIP-Nummer 243733409 gehandelt zu werden. Eine Zusammenfassung der Satzungsänderung ist als Anlage 3.1 beigefügt; eine zugehörige Pressemitteilung vom 18. Juni 2025 ist als Anlage 99.1 eingereicht.

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Insights

TL;DR: Structural 1-for-50 reverse split reduces outstanding shares ~98% without changing valuation metrics.

The filing formalises a significant capital restructuring move authorised by shareholders. The reverse split cuts Class A shares to 0.81 million and Class B shares to 0.2 million, streamlining the share base. All derivative instruments are adjusted mechanically, and fractional interests are cashed out, minimising administrative complexity. Because authorised shares stay at 660 million, the company preserves considerable flexibility for future equity issuances. No other capital terms—par value, ticker, or exchange—are altered. This is a neutral corporate action: it does not, by itself, add assets or liabilities but may alter liquidity and per-share metrics once reflected in the market.

TL;DR: Reverse split is operationally clean and keeps trading continuity; impact on intrinsic value is neutral.

From a portfolio standpoint, the split concentrates each investor’s economic interest into fewer shares while maintaining proportional ownership—key for index or mandate compliance. Cash-in-lieu for fractions prevents odd-lot creation, facilitating settlement. With trading resuming immediately under the same symbol, there is no interruption in market visibility. The unchanged authorised share count warrants monitoring for any future dilution. Overall, this event is non-dilutive and mechanically neutral in the short term.

TruGolf Holdings, Inc. (Nasdaq: TRUG) ha effettuato un frazionamento inverso delle azioni ordinarie con rapporto 1 per 50. Gli azionisti hanno conferito al Consiglio di Amministrazione l'autorità discrezionale durante l'assemblea straordinaria del 30 maggio 2025 per attuare un frazionamento in un intervallo da 1 per 5 a 1 per 75. Il Consiglio ha scelto il rapporto 1 per 50, ha depositato una modifica al certificato di incorporazione presso il Segretario di Stato del Delaware e ha reso effettivo il frazionamento alle 12:01 a.m. ET del 23 giugno 2025.

Ogni cinquanta azioni emesse e in circolazione sono state automaticamente aggregate in un'unica azione con nessuna modifica al valore nominale di $0,0001. Le azioni di Classe A in circolazione sono diminuite da circa 40,5 milioni a 0,81 milioni, mentre le azioni di Classe B sono scese da circa 10 milioni a 0,2 milioni. Il numero autorizzato di azioni rimane di 660 milioni (650 milioni di Classe A, 10 milioni di Classe B).

Le opzioni azionarie in circolazione e le riserve del piano sono state adeguate proporzionalmente. Le frazioni di azioni non saranno emesse; i detentori riceveranno un pagamento in contanti pari al prezzo medio di chiusura di TRUG nei cinque giorni di negoziazione precedenti il frazionamento, moltiplicato per la quota frazionaria.

Le azioni post-frazionamento hanno iniziato a essere negoziate su base rettificata dal 23 giugno 2025 con il ticker invariato "TRUG" e un nuovo CUSIP 243733409. Un riepilogo della modifica è allegato come Exhibit 3.1; un comunicato stampa correlato datato 18 giugno 2025 è depositato come Exhibit 99.1.

TruGolf Holdings, Inc. (Nasdaq: TRUG) ha realizado una división inversa de acciones común con una proporción de 1 por 50. Los accionistas otorgaron al Consejo de Administración la autoridad discrecional en una reunión especial el 30 de mayo de 2025 para implementar una división dentro del rango de 1 por 5 a 1 por 75. El Consejo seleccionó la proporción de 1 por 50, presentó una enmienda al certificado de incorporación ante el Secretario de Estado de Delaware y la división entró en vigor a las 12:01 a.m. ET del 23 de junio de 2025.

Cada cincuenta acciones emitidas y en circulación se combinaron automáticamente en una acción con sin cambio en el valor nominal de $0.0001. Las acciones Clase A en circulación disminuyeron de aproximadamente 40.5 millones a 0.81 millones, y las acciones Clase B bajaron de cerca de 10 millones a 0.2 millones. El número autorizado de acciones permanece en 660 millones (650 millones Clase A, 10 millones Clase B).

Las opciones de acciones en circulación y las reservas del plan se ajustan proporcionalmente. No se emitirán acciones fraccionarias; los tenedores recibirán efectivo equivalente al precio de cierre promedio de TRUG durante los cinco días hábiles previos a la división multiplicado por el derecho fraccionario.

Las acciones posteriores a la división comenzaron a cotizar con base ajustada a partir del 23 de junio de 2025 bajo el mismo símbolo "TRUG" y un nuevo CUSIP 243733409. Un resumen de la enmienda está adjunto como Exhibit 3.1; un comunicado de prensa relacionado fechado el 18 de junio de 2025 está archivado como Exhibit 99.1.

TruGolf Holdings, Inc. (나스ë‹�: TRUG)ëŠ� ë³´í†µì£¼ì— ëŒ€í•� 1대 50 액면병합ì� 실시하였습니ë‹�. ì£¼ì£¼ë“¤ì€ 2025ë…� 5ì›� 30ì� 특별ì´íšŒì—서 ì´ì‚¬íšŒì— 1대 5ì—서 1대 75 범위 ë‚´ì—ì„� 액면병합ì� 시행í•� ìž¬ëŸ‰ê¶Œì„ ë¶€ì—¬í•˜ì˜€ìŠµë‹ˆë‹�. ì´ì‚¬íšŒëŠ” 1대 50 비율ì� ì„ íƒí•˜ê³ , ë¸ë¼ì›¨ì–´ ì£� 국무장관ì—게 ì •ê´€ ìˆ˜ì •ì•ˆì„ ì œì¶œí•˜ì˜€ìœ¼ë©°, 2025ë…� 6ì›� 23ì� 오전 12ì‹� 1ë¶�(ë™ë¶€ì‹œê°„)ì—� 액면병합ì� 발효시켰습니ë‹�.

발행 ë°� 유통 ì¤‘ì¸ ì£¼ì‹ 50주가 ìžë™ìœ¼ë¡œ 1주로 합병ë˜ì—ˆìœ¼ë©°, ì•¡ë©´ê°€ $0.0001ì€ ë³€ë™ì´ 없습니다. í´ëž˜ìŠ� A 주ì‹ì€ ì•� 4,050ë§� 주ì—ì„� 81ë§� 주로 ê°ì†Œí•˜ì˜€ê³�, í´ëž˜ìŠ� B 주ì‹ì€ ì•� 1,000ë§� 주ì—ì„� 20ë§� 주로 줄었습니ë‹�. 승ì¸ë� ì£¼ì‹ ìˆ˜ëŠ” 6ì–� 6,000ë§� ì£�(í´ëž˜ìŠ� A 6ì–� 5,000ë§� ì£�, í´ëž˜ìŠ� B 1,000ë§� ì£�)ë¡� 유지ë©ë‹ˆë‹�.

발행ë� ì£¼ì‹ ì˜µì…˜ê³� ê³„íš ì¤€ë¹„ê¸ˆë� 비례하여 ì¡°ì •ë©ë‹ˆë‹�. 소수 주ì‹ì€ 발행ë˜ì§€ 않으ë©�, 보유ìžëŠ” 액면병합 ì � 5거래ì¼ê°„ TRUG í‰ê·  종가ì—� 소수 ì§€ë¶„ì„ ê³±í•œ 금액ì� 현금으로 받게 ë©ë‹ˆë‹�.

액면병합 í›� 주ì‹ì€ 2025ë…� 6ì›� 23ì¼ë¶€í„� ì¡°ì •ë� 기준으로 거래ë¥� 시작하였으며, 티커ëŠ� ë³€ê²� ì—†ì´ "TRUG"ë¥� 유지하고 ìƒ� CUSIP 번호 243733409ê°€ 부여ë˜ì—ˆìŠµë‹ˆë‹¤. 수정ì•� ìš”ì•½ì€ Exhibit 3.1ì—� 첨부ë˜ì–´ 있으ë©�, 2025ë…� 6ì›� 18ì¼ìž ê´€ë � ë³´ë„ìžë£ŒëŠ� Exhibit 99.1ë¡� 제출ë˜ì–´ 있습니다.

TruGolf Holdings, Inc. (Nasdaq : TRUG) a réalisé un regroupement d’actions ordinaires au ratio de 1 pour 50. Lors d’une assemblée générale extraordinaire tenue le 30 mai 2025, les actionnaires ont accordé au conseil d’administration le pouvoir discrétionnaire de mettre en œuvre un regroupement dans une fourchette allant de 1 pour 5 à 1 pour 75. Le conseil a choisi un ratio de 1 pour 50, déposé un amendement aux statuts auprès du Secrétaire d’État du Delaware, et le regroupement est devenu effectif à 00h01 (heure de l’Est) le 23 juin 2025.

Toutes les cinquante actions émises et en circulation ont été automatiquement regroupées en une seule action, sans modification de la valeur nominale de 0,0001 $. Le nombre d’actions de classe A en circulation est passé d’environ 40,5 millions à 0,81 million, et celui des actions de classe B de près de 10 millions à 0,2 million. Le nombre d’actions autorisées reste fixé à 660 millions (650 millions de classe A, 10 millions de classe B).

Les options d’achat d’actions en circulation et les réserves du plan sont ajustées proportionnellement. Les fractions d’actions ne seront pas émises ; les détenteurs recevront un paiement en espèces équivalent au cours moyen de clôture de TRUG au cours des cinq jours de bourse précédant le regroupement, multiplié par la fraction détenue.

Les actions post-regroupement ont commencé à être négociées sur une base ajustée à partir du 23 juin 2025 sous le même symbole boursier « TRUG » et un nouveau CUSIP 243733409. Un résumé de l’amendement est joint en annexe 3.1 ; un communiqué de presse daté du 18 juin 2025 est déposé en annexe 99.1.

TruGolf Holdings, Inc. (Nasdaq: TRUG) hat eine 1-zu-50 Reverse-Aktienzusammenlegung seiner Stammaktien durchgeführt. Die Aktionäre erteilten dem Vorstand auf einer außerordentlichen Hauptversammlung am 30. Mai 2025 die Ermächtigung, eine Zusammenlegung im Bereich von 1-zu-5 bis 1-zu-75 durchzuführen. Der Vorstand wählte das Verhältnis 1-zu-50, reichte eine Änderung der Satzung beim Staatssekretär von Delaware ein und setzte die Zusammenlegung zum 23. Juni 2025, 00:01 Uhr ET, in Kraft.

Je fünfzig ausgegebene und ausstehende Aktien wurden automatisch zu einer Aktie zusammengelegt, wobei der Nennwert von 0,0001 $ unverändert blieb. Die ausstehenden Aktien der Klasse A verringerten sich von etwa 40,5 Millionen auf 0,81 Millionen, die der Klasse B von etwa 10 Millionen auf 0,2 Millionen. Die genehmigte Aktienanzahl bleibt bei 660 Millionen (650 Millionen Klasse A, 10 Millionen Klasse B).

Ausstehende Aktienoptionen und Plankonten werden proportional angepasst. Bruchteile von Aktien werden nicht ausgegeben; Inhaber erhalten eine Barauszahlung, die dem durchschnittlichen Schlusskurs von TRUG in den fünf Handelstagen vor der Zusammenlegung multipliziert mit dem Bruchteil entspricht.

Die nach der Zusammenlegung angepassten Aktien begannen am 23. Juni 2025 unter dem unveränderten Tickersymbol „TRUG� und einer neuen CUSIP-Nummer 243733409 gehandelt zu werden. Eine Zusammenfassung der Satzungsänderung ist als Anlage 3.1 beigefügt; eine zugehörige Pressemitteilung vom 18. Juni 2025 ist als Anlage 99.1 eingereicht.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 18, 2025

 

TruGolf Holdings, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-40970   85-3269086

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

60 North 1400 West Centerville, Utah   84014
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (801) 298-1997

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Class A Common Stock, $0.0001 par value per share   TRUG   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

At a special meeting of stockholders held on May 30, 2025 (the “Special Meeting”) of TruGolf Holdings, Inc. (the “Company”), the stockholders of the Company approved, among other items, an amendment to the Company’s amended and restated certificate of incorporation (the “Amendment”) to effect a reverse stock split at a ratio in the range of 1-for-5 to 1-for-75, with such ratio to be determined in the discretion of the Company’s board of directors and with such reverse stock split to be effected at such time and date, if at all, as determined by the Company’s board of directors in its sole discretion prior to the one-year anniversary of the annual meeting.

 

Pursuant to such authority granted by the Company’s stockholders, the Company’s board of directors approved a one-for-fifty (1:50) reverse stock split (the “Reverse Stock Split”) of the Company’s common stock and the filing of the Amendment to effectuate the Reverse Stock Split. The Amendment was filed with the Secretary of State of the State of Delaware and the Reverse Stock Split became effective in accordance with the terms of the Amendment at 12:01 a.m. Eastern Time on June 23, 2025 (the “Effective Time”). The Amendment provides that, at the Effective Time, every fifty shares of the Company’s issued and outstanding common stock will automatically be combined into one issued and outstanding share of common stock, without any change in par value per share, which will remain $0.0001.

 

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 0.81 million shares, and the number of shares of Class B common stock outstanding will be reduced from approximately 10 million shares to approximately 0.2 million shares. The number of authorized shares of common stock will remain at 660 million shares, comprised of 650 million shares of Class A common stock and 10 million shares of Class B common stock. As a result of the Reverse Stock Split, proportionate adjustments will be made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all outstanding stock options, which will result in a proportional decrease in the number of shares of the Company’s common stock reserved for issuance upon exercise or vesting of such stock options, and a proportional increase in the exercise price of all such stock options . In addition, the number of shares reserved for issuance under the Company’s equity compensation plan immediately prior to the Effective Time will be reduced proportionately.

 

No fractional shares will be issued as a result of the Reverse Stock Split, and instead, the Company will pay cash (without interest) equal to such fraction multiplied by the average of the closing sales prices of the common stock during regular trading hours for the five consecutive trading days immediately preceding the Reverse Stock Split. The share amounts set forth in the above paragraph do not take into account any shares which may be paid for in connection with the foregoing treatment of fractional shares.

 

The Company’s Class A common stock is began trading on a Reverse Stock Split-adjusted basis on The Nasdaq Capital Market at the open of the markets on June 23, 2025. The trading symbol for the common stock will remain “TRUG.” The Company’s post-Reverse Stock Split common stock has a new CUSIP number (CUSIP No. 243733409), but the par value and other terms of the common stock are not affected by the Reverse Stock Split.

 

The summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

  

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Item 8.01. Other Events.

 

On June 18, 2025, the Company issued a press release to announce that it is filing a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock split of its common stock. A copy of the press release is attached to this report as Exhibit 99.1 and is incorporated by reference herein.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Exhibit Description
3.1   Amendment to Amended and Restated Certificate of Incorporation of TruGolf Holdings, Inc.
     
99.1   Press release dated June 18, 2025
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

  

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 24, 2025 TRUGOLF HOLDINGS, INC.
     
  By: /s/ Christopher Jones
  Name: Christopher Jones
  Title: Chief Executive Officer

 

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TruGolf Holdings

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Electronic Gaming & Multimedia
Sporting & Athletic Goods, Nec
United States
PLANTATION