Newton Golf raises up to $2M via convertible notes and warrants; first close $500K

Newton Golf Company, Inc.

• Issued $500K convertible note at 10% interest, 18-month maturity, conversion price $1.60.
• Warrants to purchase 50K shares at $1.75 exercise price; total potential up to 200K shares if full $2M raised.
• Purchaser is entity controlled by director Brett Hoge; structured under Nasdaq Listing Rule 5635(c).
• Notes repayable at any time without penalty; mandatory conversion if stock closes at $3.00+ for 10 consecutive days.
• Warrants expire 5 years; piggyback registration rights granted for underlying shares.