Lucosky Brookman Serves as Special Nasdaq Counsel for Sacks Parente Golf's IPO and Nasdaq Listing
Lucosky Brookman is thrilled to announce its successful role as Special Nasdaq Counsel for Sacks Parente Golf, Inc. (NASDAQ:SPGC) in its recent Initial Public Offering (IPO) and subsequent Nasdaq listing. The Company, a trailblazing technology-forward golf enterprise, has solidified its presence in the market with a diverse portfolio of innovative golf products, including putting instruments, golf shafts, golf grips, and other cutting-edge golf-related merchandise.
The Company unveiled the pricing of its IPO, issuing 3,200,000 common shares at an offering price of $4.00 per share, resulting in approximate gross proceeds of $12,800,000 before accounting for underwriting discounts, commissions, and offering expenses. As part of this momentous development, the common shares began trading on the Nasdaq Capital Market under the ticker symbol "SPGC" on August 15, 2023.
The net proceeds from this successful IPO will play a pivotal role in the Company's strategic growth initiatives. The funds will be allocated towards exploring new opportunities and expanding its presence across the Asian market. Additionally, the capital infusion will support marketing efforts, professional tour-related expenses, debt repayment, accrued compensation disbursement, manufacturing expansion, as well as working capital and general corporate undertakings.
The Benchmark Company, LLC took on the role of the sole bookrunning manager in conjunction with the offering.
The collaborative efforts between Lucosky Brookman, The Benchmark Company, LLC, and other top law firms, have successfully navigated through the complexities of the IPO landscape, showcasing the firms' ability to achieve remarkable outcomes even during challenging times.
The IPO and Nasdaq listing represent not only a financial milestone for Sacks Parente Golf, Inc., but also a testament to the unwavering commitment of all involved parties. Lucosky Brookman, The Benchmark Company, LLC, and the legal advisory team have demonstrated their proficiency in navigating the intricate IPO landscape, reinforcing their status as leading players in the legal and financial sectors.