TruGolf Closes Polymath Acquisition, Adds Blockchain Tokenization to Nasdaq Listing
TRUG is trading near its 52-week low of $2.47 (7.7% above the low) on light trading volume (0.2× avg).
Summary
TruGolf completed its acquisition of Polymath Research, bringing the Polymesh Layer-1 blockchain for regulated assets into a Nasdaq-listed company. The deal was first announced in August; closing triggers new executive appointments—Natalie Hirsch as CFO/COO and David Hackett to the board with a $100,000 first-year fee—and a $2.95 million warrant exercise that bolsters cash. TruGolf entered a Third Amendment, Waiver and Exercise Agreement on October 7, 2026, under which holders exercised Series B preferred warrants for 3,278 shares, yielding $2.95 million in net proceeds. Polymath brings over $132 million in tokenized assets issued for 65+ issuers and a compliance-first infrastructure. The combined company plans a tokenized equipment leasing program with TruGolf Links, targeting Q1 2027, which also includes fractional franchise ownership opportunities. This follows a reverse split and CEO resignation, but the acquisition adds a new revenue stream and institutional tokenization exposure. Polymath operates as a wholly owned subsidiary of TruGolf, and former Polymath shareholders received TruGolf Class A common and non-voting Series C preferred stock, with the Series C preferred stock conversion price reset to $11.82 per share.
Updated with an SEC 8-K filing · What changed
Updates
· GlobeNewswire — TruGolf completed the Polymath acquisition on October 8, 2026, with Natalie Hirsch as CFO/COO and a $2.95 million warrant exercise.
- Polymath Metrics — As of December 31, 2025, Polymath had issued more than $132 million in tokenized assets for more than 65 active issuers.
- Warrant Exercise — On October 8, 2026, TruGolf entered into a Third Amendment, Waiver and Exercise Agreement. The Series B preferred warrants exercise resulted in $3.278 million in stated value.
- Business Continuation — TruGolf will continue to run its golf technology business, including its simulators and the E6 platform.
- Executive Background — Natalie Hirsch led Polymath as CFO and interim CEO through the Transaction.
All 5 details
- As of December 31, 2025, Polymath had issued more than $132 million in tokenized assets for more than 65 active issuers.
- On October 8, 2026, TruGolf entered into a Third Amendment, Waiver and Exercise Agreement.
- The Series B preferred warrants exercise resulted in $3.278 million in stated value.
- TruGolf will continue to run its golf technology business, including its simulators and the E6 platform.
- Natalie Hirsch led Polymath as CFO and interim CEO through the Transaction.
· SEC 8-K — The Series C preferred stock conversion price was reset to $11.82 per share, and David Hackett was appointed to the board with a $100,000 first-year fee.
· GlobeNewswire — TruGolf entered a Third Amendment, Waiver and Exercise Agreement on October 7, 2026, under which holders exercised Series B preferred warrants for 3,278 shares, yielding $2.95 million in net proceeds.
- Warrant Exercise — TruGolf exchanged its outstanding Series A preferred warrants for Series B preferred warrants. Series B preferred warrants are exercisable for Series B preferred stock, convertible to Class A common. Series B preferred stock is convertible into shares of TruGolf’s Class A common stock subject to applicable beneficial ownership and Nasdaq limitations.
- Acquisition Structure — Polymath operates as a wholly owned subsidiary of TruGolf. Former Polymath shareholders received TruGolf Class A common and non-voting Series C preferred stock.
- Polymesh Ecosystem
- Polymath is supported by more than 50 ecosystem partners.
- Polymesh is secured by licensed financial institutions acting as node operators.
- Polymesh is supported by an ecosystem including AlphaPoint, Dfns, and Zodia.
- Polymesh is a public, permissioned Layer-1 blockchain where identity, compliance, and settlement are built into the chain itself.
- Tokenization Business — The acquisition brings a team experienced in institutional tokenization. Combined company has two revenue streams: golf simulation/software and tokenization infrastructure. Polymath supported issuers across private equity, credit, real estate, and funds.
- Equipment Leasing Program — The tokenized equipment leasing program also includes fractional franchise ownership opportunities.
All 13 details
- The acquisition brings a team experienced in institutional tokenization.
- Combined company has two revenue streams: golf simulation/software and tokenization infrastructure.
- Polymath is supported by more than 50 ecosystem partners.
- The tokenized equipment leasing program also includes fractional franchise ownership opportunities.
- Polymath operates as a wholly owned subsidiary of TruGolf.
- Polymath supported issuers across private equity, credit, real estate, and funds.
- Polymesh is secured by licensed financial institutions acting as node operators.
- Polymesh is supported by an ecosystem including AlphaPoint, Dfns, and Zodia.
- Former Polymath shareholders received TruGolf Class A common and non-voting Series C preferred stock.
- TruGolf exchanged its outstanding Series A preferred warrants for Series B preferred warrants.
- Series B preferred warrants are exercisable for Series B preferred stock, convertible to Class A common.
- Polymesh is a public, permissioned Layer-1 blockchain where identity, compliance, and settlement are built into the chain itself.
- Series B preferred stock is convertible into shares of TruGolf’s Class A common stock subject to applicable beneficial ownership and Nasdaq limitations.
At the time of this announcement, TRUG was trading at $2.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.5M. The 52-week trading range was $2.47 to $282.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.