TruGolf issues additional $2.8M senior convertible notes, 10% OID, conversion prices $2.00/$2.50

TruGolf Holdings, Inc.

January 8, 2025: PIPE investor exercised option for $2,800,000 principal of additional senior convertible notes; net proceeds $2,520,000 after 10% OID.
Additional Notes bear 10% interest (15% if paid in stock), mature 5 years, convertible at $2.00/share (half) and $2.50/share (half).
As of January 8, 2025, $6.5M of original PIPE Convertible Notes have been converted into Class A common stock.
Total Class A common shares outstanding: 27,275,479 as of January 8, 2025.
Notes are senior unsecured; holders can require redemption at 25% premium upon event of default.

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