TruGolf Holdings, Inc. (NASDAQ: TRUG) outlined several corporate developments in September as it continues to advance its acquisition of Polymath Research Inc., a developer of infrastructure for regulated digital securities and tokenized real-world assets.

Founder Chris Jones resigned as chief executive officer, and Chairman Brenner Adams was appointed interim CEO. Jay Heller, CEO of K Lab and a former vice president and head of capital markets and IPO execution at Nasdaq, joined the board of directors.

TruGolf announced a 1-for-10 reverse stock split of its Class A common stock, effective September 29, 2026, under a new CUSIP number 243733607.

TruGolf Links and Polymath announced plans to develop an equipment leasing program funded through tokenized securities and fractional franchise ownership opportunities for qualified franchisees, targeted for the first quarter of 2027.

Polymath and its Polymesh blockchain joined the STO Foundation, which is set to become the Tokenized Asset Foundation on October 1, as founding partners. Polymath also partnered with High Ridge Trust, a regulated U.S. trust company specializing in institutional digital assets.

TruGolf's acquisition of Polymath was originally announced August 18. The deal would bring Polymath's tokenization platform and its Polymesh blockchain under a Nasdaq-listed company.

TruGolf also installed its TruGolf RANGE product at its first location in New Albany, Indiana. The product allows up to five players to practice simultaneously on a single screen and includes ball flight data and swing analytics.