Sacks Parente Golf, Inc. Announces Pricing of Upsized $8.4 Million Underwritten Public Offering

Core Viewpoint - Sacks Parente Golf, Inc. has announced a public offering expected to generate approximately $8.4 million in gross proceeds, aimed at supporting its growth in the golf product market [1][4]. Group 1: Offering Details - The offering includes 7,000,000 Common Units, each comprising one share of Common Stock or one Pre-Funded Warrant, along with Series A and Series B Common Warrants [2]. - The public offering price is set at$1.20 per Common Unit, with Pre-Funded Units priced at $1.199, reflecting a minimal exercise price for the Pre-Funded Warrants [2]. - The Series A and Series B Common Warrants have an initial exercise price of$2.40 per share and are subject to stockholder approval, with expiration periods of 60 months and 30 months, respectively [2]. Group 2: Underwriting and Closing - Aegis Capital Corp. is the sole book-running manager for the offering, and the transaction is expected to close around December 13, 2024, pending customary closing conditions [3][5][4]. - Aegis has been granted a 45-day option to purchase additional shares to cover over-allotments, up to 15% of the shares sold in the offering [3]. Group 3: Use of Proceeds - The net proceeds from the offering, combined with existing cash, will be utilized for general corporate purposes and working capital [4]. Group 4: Company Overview - Sacks Parente Golf, Inc. is a technology-driven golf company with a diverse portfolio of products, including putters, shafts, grips, and accessories, known for innovations like the First Vernier Acuity putter and patented Ultra-Low Balance Point technology [8].