Sacks Parente Golf (SPGC) Prices 366K Share Offering at $2/sh

Sacks Parente Golf, Inc. (Nasdaq: SPGC) announced the pricing of its underwritten public offering (the "Offering") of 366,000 shares of Common Stock for aggregate gross proceeds of approximately $732,000, prior to deducting underwriting discounts and other offering expenses.

The Company intends to use the net proceeds from this Offering for general corporate and working capital needs.

The transaction is expected to close on or about October 10, 2024, subject to the satisfaction of customary closing conditions.

In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase additional shares of common stock of up to 15% of the number of shares of common stock sold in the Offering solely to cover over-allotments, if any. If this option is exercised in full, the total gross proceeds of the offering including over-allotments are expected to be approximately $842,000 before deducting underwriting discounts, commissions and offering expenses, which amount would essentially exhaust the maximum amount the Company can currently raise under its shelf registration statement.

Aegis Capital Corp. is acting as the sole book-running manager for the Offering. TroyGould PC is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.

The Offering was made pursuant to an effective registration statement on Form S-3 (No. 333-281664) previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on September 23, 2024. A preliminary prospectus (the "Preliminary Prospectus") describing the terms of the proposed offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the Preliminary Prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this Offering, interested parties should read in their entirety the registration statement and the Preliminary Prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such registration statement and the Preliminary Prospectus, which provide more information about the Company and the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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