Sacks Parente Golf, which designs and manufactures premium golf putters, raised $13 million by offering 3.2 million shares at $4, the low end of the range of $4 to $5. The company offered 0.2 million more shares than anticipated.
The company states that its shaft and putter technology was shown by The Golf Lab to improve players' ability to make putts, feel of the putter head, stroke, face angle at impact, and consistency for distance control. The company intends to manufacture and assemble substantially all of its products in the US.
Sacks Parente Golf plans to list on the Nasdaq under the symbol SPGC. The Benchmark Company acted as sole bookrunner on the deal.
