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NEWTON GOLF Announces $1 Million Share Repurchase Authorization

1. NEWTON GOLF announces $1 million share repurchase authorization for February 2025. 2. Share buybacks may indicate management's confidence in company growth prospects. 3. Growing adoption of Newton Motion shafts supports repurchase decision. 4. Company plans to expand manufacturing for premium golf products in the U.S. 5. Future growth may include new product lines and potential acquisitions.

Shares Buyback
+14.06%Current Return
VS
-0.67%S&P 500
$0.56102/03 08:30 AM EDTEvent Start
$0.639902/03 08:12 PM EDTLatest Updated
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FAQ

Why Bullish?

Share repurchase suggests strong management confidence, historically linked to price increases.

How important is it?

Share buybacks often lead to stock price support and signify positive business outlook.

Why Short Term?

Immediate positive market perception likely in the near future due to buyback.

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SPGCSacks Parente
CAMARILLO, CA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces that its Board of Directors has approved a share repurchase authorization of up to $1 million of its common stock, effective January 31, 2025 and expiring January 31, 2026. The Company may repurchase the shares in open market transactions, privately negotiated transactions, or a combination thereof. Share repurchases are subject to the Company’s discretion based on market conditions, business considerations, legal requirements, and other factors. There is no guarantee as to the number of shares that will be repurchased, and the repurchase program may be extended, suspended, or discontinued without prior notice at the Company’s discretion. “Our share repurchase authorization reflects the confidence we have in our business, our outlook for continued growth, and a path to breakeven. Growing adoption of our Newton Motion replacement shafts is a significant factor that provides us the flexibility and discretion to repurchase our common stock,” commented NEWTON GOLF Executive Chairman Greg Campbell. About NEWTON GOLF: A Sacks Parente Company NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company 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 (ULBP) 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 www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters. Investor Contact for NEWTON GOLFCORE IR516-222-2560investors@sacksparente.com

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