TruGolf to Acquire Polymath Research for Nasdaq Listing

Salt Lake City, Utah, and Toronto, Canada, August 18, 2026 - TruGolf Holdings, Inc. and Polymath Research Inc. announced they have entered into an acquisition agreement. Under the terms, TruGolf will acquire Polymath in exchange for shares of TruGolf Class A common stock and non-voting Series C preferred stock. The transaction brings Polymath, a Layer-1 blockchain company focused on regulated digital securities, to the public markets on the Nasdaq Stock Exchange.

Transaction Details

Polymath reported revenues of $4.2 million in 2025 and assets totaling $21 million. Polymath shareholders will receive shares of TruGolf Class A common stock equal to approximately 19.9 percent of the total outstanding Class A common shares immediately prior to closing, alongside non-voting Series C preferred stock. Additionally, TruGolf will raise $3 million in gross proceeds from existing holders of its Series A preferred stock concurrently with the closing.

The combined company will continue to be led by TruGolf management alongside Natalie Hirsch, Chief Financial Officer of Polymath, who will serve as Chief Financial Officer and Chief Operating Officer of the combined company following the closing. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.