8-K
Newton Golf Company, Inc. (NWTG)
UNITED
STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 22, 2024
SACKS
PARENTE GOLF, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-41701 | 82-4938288 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation) | (Commission<br><br> <br>File Number) | (IRS Employer<br><br> <br>Identification No.) |
551Calle San PabloCamarillo, CA 93012
(Address of principal executive offices, including ZIP code)
855-774-7888
(Registrant’s telephone number, including area code)
NotApplicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act of 1933 (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(e) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common<br> stock, par value $0.01 per share | SPGC | The<br> Nasdaq Stock Market, LLC |
Item 8.01 Other Events
On January 22, 2024, the Company issued a press release announcing the signing by Newton Shafts, a division of the Company, of PGA TOUR Champions player Ken Drake as its first player to its roster A copy of the press release is filed as Exhibit 99.1 to this Current Report and is incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release announcing the signing by Newton Shafts, a division of the Company, of PGA TOUR Champions player Ken Dule as its first player to its roster.. |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document) |
| -2- |
| --- |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date:<br> January 22, 2024 | SACKS PARENTE GOLF, INC. | |
|---|---|---|
| By*:* | /s/ Steve Handy | |
| Steve<br>Handy | ||
| Chief Financial Officer |
| -3- |
| --- |
EXHIBIT99.1
NewtonShafts, a Division of Sacks Parente, Announces the Signing of PGA TOUR Champions Player Ken Duke as its First Player to its Roster
CAMARILLO,CA, January 22, 2024 – Newton Golf Shafts, the newly established business division of Sacks Parente Golf, Inc. (Nasdaq: SPGC) (“SPG” or the “Company”) specializing in advanced shafts using proprietary carbon fiber technology, announces the signing of PGA TOUR Champions player Ken Duke as its first player to represent the Newton brand. Duke has chosen to use the new Newton Motion Shaft in his driver during the upcoming 2024 season.
Following his victory at last year’s Shaw Charity Classic on the PGA TOUR Champions, Duke made the switch to the Newton Motion shaft at the TOUR’S Constellation FURYK & FRIENDS event in October. Notably, he ranked first in driving accuracy in that event, successfully hitting 40 of 42 fairways, setting the stage for a series of impressive performances. Since incorporating the Newton Shaft into his bag, Duke has finished first, third, tied for twelfth, and tied for first in driving distance accuracy in events on the PGA Tour Champions.
“What I like about the Newton Shaft is that it is very consistent,” said Duke. “As a professional golfer, that’s what we look for. It’s unbelievable how I can shape it. Not only that, but I’ve gained 6-15 yards with it and still get the height that I want. I’m so excited about the shaft and how it can improve my game.”
The Newton Motion driver shaft is a carbon fiber shaft designed to enhance a golfer’s performance by promoting straighter and longer shots with reduced effort. Using the Company’s proprietary shaft design and construction, the Newton Motion shaft features four essential technologies:
| ● | Elongated Bend Profile - The shaft is designed to bend over a longer span of its length, improving<br> club head speed. The added flexibility of the carbon fiber gives the impression the golfer<br> doesn’t need to exert excessive force during the swing. |
|---|---|
| ● | Kinetic Storage Construction – A proprietary construction empowers the fibers to store<br> more energy that is harnessed through the elongated bend, resulting in a significant boost<br> in exit velocity. |
| ● | Newton Symmetry360 Design – ensures consistent flex, regardless of the driver’s<br> clocking position. |
| ● | Variable Bend Profile – meticulously designed to match the bend and torque requirements<br> of each flex. Whether a slow or high swing speed, the Newton Motion technology tailors to<br> the torque. |
“We are ecstatic that Ken put the shaft in his bag so quickly,” said Greg Campbell, Executive Chairman, Sacks Parente Golf, Inc. “It underscores the performance of our proprietary technology aimed at helping players achieve longer and straighter drives.”
In addition to his adoption of the Newton shaft, Duke will collaborate with the Newton brand, providing valuable player insights for product design.
AboutSacks Parente Golf
Sacks Parente Golf, Inc. serves as the parent entity of technology-forward golf companies that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (U.L.B.P.) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.
In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.
The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea. For more information, please visit the Company’s website at https://sacksparente.com/.
MediaContact for SPG:
Beth Gast
BG Public Relations
beth.gast@bgpublicrelations.com
InvestorContact:
CORE IR
516-222-2560
investors@sacksparente.com