Highest-materiality recent filing
TruGolf Holdings appoints Steven Passey as CFO effective May 15, 2026
Initial base salary $225,000/yr for first 3 months, then increases to $250,000/yr.
TruGolf regains Nasdaq compliance; completes debt conversions and warrant exercise
Regained minimum bid price compliance on July 17, 2025, as confirmed by Nasdaq Panel.
TruGolf converts $3.94M PIPE notes to preferred stock, receives $5M from warrant exercise
$3,938,311 of PIPE convertible notes exchanged for 3,938.311 shares of Series A Preferred Stock.
TruGolf Holdings files 1-for-50 reverse stock split effective June 23, 2025
Reverse stock split ratio: 1-for-50; effective 12:01 a.m. ET on June 23, 2025.
TruGolf gets Nasdaq temporary exception to July 2025; shareholders approve share increase to 650M
Nasdaq Panel grants temporary exception: bid price compliance by July 8, 2025; MVPHS and equity compliance by July 30, 2025.
TruGolf receives Nasdaq notice for MVPHS and bid price non-compliance; hearing May 15
Received Nasdaq notice on May 7, 2025, for failure to regain compliance with minimum MVPHS ($15M) and $1 bid price requirements.
TruGolf restructures $15.5M PIPE notes/warrants into Series A preferred; converts $3.9M notes
Exchanged PIPE warrants for 1,885 shares of Series A preferred stock and a warrant for 37,033 Series A preferred shares.
TruGolf receives Nasdaq delisting notice for equity non-compliance; plans appeal
Nasdaq determined TruGolf failed to maintain stockholders' equity of at least $10M by March 31, 2025.
TruGolf expects record 2024 sales of ~$22.5M; 2H EBITDA >$2.2M, above guidance
2024 sales expected ~$22.5M, a new record; 2H EBITDA >$2.2M, well above $1.1-1.5M guidance.
TruGolf extends Nasdaq compliance waiver deadlines to Feb 28, Apr 30
Convertible note holders extended waiver for listing compliance to February 28, 2025 (from Jan 15).
TruGolf issues additional $2.8M senior convertible notes, 10% OID, conversion prices $2.00/$2.50
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.
TruGolf Q3 sales up 82% YoY to $6.24M; EPS $0.00, EBITDA $1.1M; raises FY guidance
Third quarter sales of $6,236,795, up 82% vs Q3 2023; EPS $0.00.
TruGolf receives two Nasdaq notices: bid price below $1 and MVPHS under $15M
On Nov 5, 2024, Nasdaq notified TruGolf that its bid price was below $1 for 30 consecutive business days, triggering a 180-day compliance period ending May 5, 2025.
TruGolf receives Nasdaq delisting notice for negative stockholders' equity of ($10.5M)
Nasdaq notified TruGolf on Aug 19, 2024, that stockholders' equity was ($10,508,104) as of June 30, 2024, below the $10M minimum.
TruGolf receives Nasdaq deficiency notice for late Q1 10-Q filing
Received deficiency letter on July 15, 2024 for failing to file Q1 2024 Form 10-Q on time.
TruGolf, Inc. 2023 net loss $10.3M vs $0.96M; going concern doubt raised
Net loss of $10,283,109 (revenue $20,583,851) vs 2022 loss of $956,841 (revenue $20,227,331).
TruGolf enters up to $15.5M PIPE financing with convertible notes and warrants
Initial closing of $4.65M aggregate principal convertible notes at 10% OID for $4.185M gross proceeds; up to $15.5M total.
TruGolf completes de-SPAC merger with Deep Medicine, begins trading on Nasdaq under TRUG
Closed merger on Jan 31, 2024; implied equity value for TruGolf $80M; DMAQ changed name to TruGolf Holdings, Inc.
Stockholders approved combination at Jan 19, 2024 meeting; closing occurred Jan 31, 2024.
Deep Medicine Acquisition stockholders approve business combination with TruGolf
Stockholders approved the NTA proposal, business combination, charter, governance, equity incentive plan, director election, and Nasdaq proposals at Jan 19 special meeting.
Deep Medicine Acquisition Corp. amends TruGolf merger terms and secures $11M PIPE financing
Amendment increases Class B voting rights from 10 to 25 votes per share and reduces post-closing board from 7 to 5 members.
Up to $8M in convertible notes with 10% OID across three tranches; $2.11M funded at close of Business Combination.
Deep Medicine Acquisition amends TruGolf merger: earnout shares post-closing, $10/share price fixed
Earnout shares to be issued after Closing if milestones met, not at Closing and put in escrow.
On May 1, 2026, TruGolf Holdings, Inc. (the “Company”) entered into an employment letter (the “Employment Letter”) with Steven Passey to serve as the Company’s Chief Financial Officer effective May 15, 2026.
Christopher Jones, Shaun Limbers, Humphrey Polanen, AJ Redmer, and Riley Russell were appointed as directors of the Company.
Christopher Jones, Shaun Limbers, Humphrey Polanen, AJ Redmer, and Riley Russell were appointed as directors of the Company.
Christopher Jones, Shaun Limbers, Humphrey Polanen, AJ Redmer, and Riley Russell were appointed as directors of the Company.
Christopher Jones, Shaun Limbers, Humphrey Polanen, AJ Redmer, and Riley Russell were appointed as directors of the Company.
Mr. Christopher Jones was appointed Chief Executive Officer, President and Chairman of the Board of the Company.
Mr. Lindsay Jones will serve as the Chief Financial Officer of the Company.
Max materiality 1.00 · Median 0.65 · Most common event other_material