TruGolf Improves Balance Sheet with Agreement to Eliminate All Convertible Notes

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All Convertible Notes & Majority of Related Party Notes to be Converted to Equity Salt Lake City, Utah, April 24, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc.(NASDAQ: TRUG), a leading provider of golf simulator software and hardware, announced today that it has entered into agreements with its existing noteholders to exchange all its outstanding convertible notes into a newly created Series A Preferred Stock.

Forward-looking statements include, without limitation, the closing of the exchange of the convertible notes for Series A Preferred Stock and the ability of the Company to regain compliance with NASDAQ’s continued listing requirements.

These actions are part of an effort by the Company to improve the capital structure and reduce the debt on its balance sheet in order to meet the NASDAQ’s continued listing requirements.  The exchange of the convertible notes and the conversion of the Series A Preferred Stock is subject to certain conditions, including the receipt of shareholder approval.

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Author / Journalist: TruGolf Holdings, Inc.

Category: Technology

Markets: China

Topics: US2437331026 Nasdaq:TRUG

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-24 @ 11:30:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 595 words

Reading Time: 4 minutes read

Sentences: 23 lines

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Copyright Owner: © GlobeNewswire

News ID: 28189215

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