TruGolf Clarifies Nasdaq Compliance Plan and Provides Context to Equity Line of Credit

Salt Lake City, Utah, May 27, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, has clarified its plan to regain compliance with Nasdaq listing rules in response to shareholder inquiries. On August 19, 2024, TruGolf Holdings, Inc. received a written notification from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, the Company’s stockholders’ equity was ($10,508,104), and therefore, the Company was not in compliance with Nasdaq’s Listing Rule 5450(b)(1)(A), which requires a $10,000,000 minimum stockholders’ equity standard (the “Equity Rule”). On May 15, 2025, the Company presented a plan to the Nasdaq Hearings panel on how it plans to regain compliance with Nasdaq’s listing rules and requested an extension to execute on the plan. To date the Hearings panel has not rendered a determination. There can be no assurance that it will provide an extension or move to delist. The key provisions of the plan were:

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