Sacks Parente Golf, Inc. (NASDAQ:SPGC), a company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products, today announced the pricing of its initial public offering of its 3,200,000 common shares at a price of $4.00 per share, for gross proceeds of approximately $12,800,000 before deducting underwriting discounts, commissions and offering expenses.
The offering is expected to close on Aug. 17, 2023, subject to customary closing conditions.
The company said net proceeds from the initial public offering will be for new opportunities and expansion into Asia, to fund marketing and professional tour related expenses, to repay debt, pay accrued compensation, and the remainder to fund manufacturing expansion, and for working capital and general corporate purposes.
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Photo Courtesy of Sacks Parente Golf, Inc.