Polymath, c eato of the Polymesh Laye -1 blockchai , becomes pa t of Nasdaq-listed T uGolf (NASDAQ: TRUG). Natalie Hi sch is amed CFO a d COO, a d a $2.95 millio wa a t exe cise st e gthe s the compa y’s cash positio .
Salt Lake City, Utah, Oct. 09, 2026 (GLOBE NEWSWIRE) — T uGolf Holdi gs, I c. (“T uGolf”) (NASDAQ: TRUG) closed its acquisitio (the “T a sactio ”) of Polymath Resea ch I c. (“Polymath”), the Ca adia compa y that was i volved i the c eatio of the secu ity toke catego y a d built Polymesh, a Laye -1 blockchai desig ed f om the g ou d up fo egulated assets. The T a sactio b i gs a team expe ie ced i i stitutio al toke izatio i to a Nasdaq-listed compa y as ba ks, asset ma age s a d issue s i c easi gly explo e blockchai -based applicatio s fo eal-wo ld assets.
The acquisitio c eates a si gle digitizatio compa y with two compleme ta y eve ue st eams: T uGolf’s established golf simulatio a d softwa e busi ess a d Polymath’s i stitutio al toke izatio i f ast uctu e. Polymath b i gs a established platfo m to the combi ed compa y. As of Decembe 31, 2025, it had issued mo e tha $132 millio i toke ized assets fo mo e tha 65 active issue s, a d is suppo ted by mo e tha 50 ecosystem pa t e s. The two busi esses a e al eady wo ki g togethe : T uGolf Li ks a d Polymath a e developi g a equipme t leasi g p og am fu ded th ough toke ized secu ities, alo g with f actio al f a chise ow e ship oppo tu ities fo qualified f a chisees, ta geted fo the fi st qua te of 2027. T uGolf Li ks’ Regio al Develope s i New Je sey, New Yo k a d Illi ois ep ese t commitme ts fo mo e tha 100 futu e locatio s.
Toke ized eal-wo ld assets ow total mo e tha $38 billio o public blockchai s, held by mo e tha 5 millio i vesto s, acco di g to RWA.xyz data as of Octobe 1, 2026. Wall St eet’s co e i f ast uctu e is movi g with it: i July, the Deposito y T ust & Clea i g Co po atio (DTCC) completed its fi st live p oductio t ades of toke ized U.S. T easu ies, equities, a d ETFs with about 40 pa ticipati g fi ms, ahead of the full lau ch of its toke izatio se vice this mo th. Polymath’s i f ast uctu e is built fo exactly this ki d of i stitutio al, complia ce-fi st issua ce.
With the T a sactio ow complete, T uGolf will co ti ue to u its golf tech ology busi ess, i cludi g its simulato s a d the E6 platfo m, while Polymath ope ates as a wholly ow ed subsidia y. As pa t of a public compa y, Polymath gai s access to the public capital ma kets to fu d the ext stage of Polymesh adoptio amo g fi a cial i stitutio s, issue s, a d othe ma ket pa ticipa ts. Acco di g to B e e Adams, T uGolf’s i te im CEO a d Chai ma of the Boa d:
“T uGolf was built o the idea that tech ology ca ope up somethi g that used to feel exclusive. We did it fo golf, a d Polymath is doi g it fo capital ma kets. Polymath’s team has bee buildi g egulated toke izatio i f ast uctu e fo ma y yea s, a d today that wo k sits i side a Nasdaq-listed compa y with the t a spa e cy a d accou tability that comes with it. We’ e p oud to give this team a public-ma ket platfo m at a mome t whe i stitutio s a e fi ally eady to move.”
Upo closi g of the T a sactio , Natalie Hi sch, who led Polymath as CFO a d i te im CEO th ough the T a sactio , was appoi ted as Chief Fi a cial Office a d Chief Ope ati g Office of T uGolf, a d David Hackett joi ed T uGolf’s Boa d. Acco di g to Natalie Hi sch, Chief Fi a cial Office of T uGolf a d I te im CEO of Polymath:
“Toke izatio is movi g out of the pilot stage, a d the i stitutio s leadi g that shift eed i f ast uctu e they ca t ust with egulated assets. That is what Polymath has spe t the past i e yea s buildi g, a d it is why Polymesh was desig ed with complia ce at the p otocol level. Joi i g a Nasdaq-listed compa y gives us the capital access a d public-ma ket discipli e to scale with ou clie ts. My focus ow is executio : b i gi g mo e issue s a d mo e assets o to Polymesh.”
Fou ded i 2017, Polymath i t oduced the ST-20 secu ity toke sta da d a d has spe t ove i e yea s buildi g the issua ce, complia ce, a d lifecycle tools that egulated secu ities eed o a blockchai . I 2021, it lau ched Polymesh, its public, pe missio ed Laye -1 blockchai whe e ide tity, complia ce, a d settleme t a e built i to the chai itself. Polymath co t ibuted the ERC-1400 secu ity toke sta da d a d has suppo ted issue s a d i stitutio s ac oss p ivate equity, c edit, eal estate, fu ds, a d othe asset classes. Polymesh, which achieved SOC 2 Type 1 complia ce i 2025, is secu ed by lice sed fi a cial i stitutio s acti g as ode ope ato s a d suppo ted by a ecosystem of mo e tha 50 compa ies, i cludi g AlphaPoi t, Df s, a d Zodia. I co ectio with the T a sactio , fo me sha eholde s of Polymath eceived sha es of T uGolf Class A commo stock a d o -voti g Se ies C p efe ed stock.
Comme ti g o the completio of the T a sactio , T evo Kove ko, Co-Fou de of Polymath, discussed Polymath’s expe ie ce i the developme t of the toke ized secu ities i dust y:
“Polymath was amo g the ea ly pio ee s of the toke ized secu ities ma ket i 2018, a d it is exciti g to see the apid g owth of eal wo ld asset toke izatio today. Polymath i vested ea ly i buildi g a pu pose built blockchai a d a platfo m fo issui g a d ma agi g toke ized assets to act as i f ast uctu e fo futu e i dust y g owth. It’s bee a exciti g jou ey, but we a e still ea ly o the oad to toke izi g global stocks, bo ds a d eal estate with the missio to make capital ma kets mo e accessible to busi esses a d i vesto s a ou d the wo ld.”
As p eviously disclosed, T uGolf excha ged its outsta di g Se ies A p efe ed wa a ts fo Se ies B p efe ed wa a ts i co ectio with the completio of the T a sactio . The Se ies B p efe ed wa a ts a e exe cisable fo Se ies B p efe ed stock, which is co ve tible i to sha es of T uGolf’s Class A commo stock subject to applicable be eficial ow e ship a d Nasdaq limitatio s. O Octobe 8, 2026, T uGolf e te ed i to a Thi d Ame dme t, Waive a d Exe cise Ag eeme t, pu sua t to which holde s exe cised Se ies B p efe ed wa a ts fo 3,278 sha es of Se ies B p efe ed stock, esulti g i agg egate et p oceeds to T uGolf of $2.95 millio ($3.278 millio i stated value).
Additio al i fo matio ega di g the T a sactio , i cludi g the Thi d Ame dme t, Waive a d Exe cise Ag eeme t, will be i cluded i a Cu e t Repo t o Fo m 8-K to be filed by T uGolf with the U.S. Secu ities a d Excha ge Commissio .
Co tact I fo matio :T uGolf Holdi gs, I c.60 No th 1400 WestCe te ville, Utah 84014
I vesto Relatio sMichael Bacal, Da ow Associates917-886-9071mbacal@da owi .com
Media Co tactDavid Cashdavid.cash@polymath. etwo k
About T uGolf
Si ce 1983, T uGolf has bee passio ate about d ivi g the golf i dust y fo wa d with i ovative i doo golf solutio s. T uGolf builds p oducts that captu e the spi it of golf. T uGolf’s missio is to help g ow the game by maki g it mo e available, app oachable, a d affo dable th ough tech ology, because T uGolf believes that golf is fo eve yo e. T uGolf’s team has built awa d-wi i g video games, i ovative ha dwa e solutio s, a d a all- ew e-spo ts platfo m to co ect golfe s a ou d the wo ld with E6 CONNECT. Si ce T uGolf’s begi i g, T uGolf has co ti ued to attempt to defi e a d edefi e what is possible with golf tech ology.
About Polymath
Polymath is a Ca adia tech ology compa y that develops e te p ise-g ade capital ma kets i f ast uctu e fo the issua ce, complia ce a d lifecycle ma ageme t of egulated digital secu ities a d othe toke ized fi a cial i st ume ts.
Polymath e ables issue s, i vesto s, a d ma ket pa ticipa ts to c eate a d ma age toke ized ep ese tatio s of eal‑wo ld assets withi complia t f amewo ks, suppo ti g i vesto o boa di g, egulato y co t ols, a d post‑issua ce admi ist atio ac oss p ivate a d i stitutio al ma kets.
With a st o g histo y of buildi g blockchai ‑based capital ma kets i f ast uctu e, Polymath’s tech ology is desig ed to suppo t scalable, complia t deployme t of toke ized secu ities ac oss a va iety of asset classes, i cludi g eal‑wo ld assets, p ivate equity, a d st uctu ed fi a cial p oducts.
Polymath’s solutio s a e pu pose-built fo i stitutio al adoptio a d evolvi g egulato y e vi o me ts.
Fo wa d-Looki g Stateme ts
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the U ited States P ivate Secu ities Litigatio Refo m Act of 1995, i cludi g Sectio 27A of the Secu ities Act of 1933, as ame ded, a d Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded, as well as fo wa d-looki g i fo matio withi the mea i g of applicable secu ities laws. Fo wa d-looki g stateme ts a e stateme ts that a e ot histo ical facts a d i clude stateme ts ega di g beliefs, pla s, expectatio s, i te tio s, estimates, p ojectio s, o assumptio s ega di g futu e eve ts o pe fo ma ce.
Fo wa d-looki g stateme ts i this p ess elease i clude, but a e ot limited to, stateme ts ega di g: the a ticipated be efits of the T a sactio ; the i teg atio of Polymath’s busi ess with T uGolf followi g the closi g of the T a sactio ; the a ticipated developme t a d timi g of T uGolf Li ks’ equipme t leasi g p og am a d f actio al f a chise ow e ship oppo tu ities; the expected ope atio s, busi ess st ategy, g owth oppo tu ities, a d p ospects of the combi ed compa y; the a ticipated be efits of the fi a ci g a d the exe cise of the Se ies B P efe ed Wa a ts, i cludi g the expected impact o T uGolf’s cash positio a d fi a cial flexibility; the a ticipated use of p oceeds; the futu e oles of membe s of ma ageme t a d the Boa d; a d T uGolf’s ability to execute o its st ategic p io ities followi g the T a sactio .
Fo wa d-looki g stateme ts a e ge e ally ide tified by wo ds such as “a ticipates,” “believes,” “expects,” “i te ds,” “pla s,” “p ojects,” “estimates,” “may,” “will,” “would,” “could,” “should,” a d simila exp essio s o the egative the eof. These stateme ts a e based o cu e t expectatio s, assumptio s, a d estimates of ma ageme t as of the date of this p ess elease a d i volve k ow a d u k ow isks, u ce tai ties, a d othe facto s that may cause actual esults, pe fo ma ce, o developme ts to diffe mate ially f om those exp essed o implied by such fo wa d-looki g stateme ts.
Facto s that could cause actual esults to diffe mate ially f om those co templated by the fo wa d-looki g stateme ts i clude, amo g othe s: T uGolf’s ability to successfully i teg ate Polymath’s busi ess followi g the T a sactio a d ealize the a ticipated be efits of the T a sactio ; the costs, difficulties, a d u ce tai ties associated with the i teg atio of the busi esses; T uGolf’s ability to successfully execute its busi ess st ategy a d st ategic p io ities; T uGolf’s ability to effectively deploy the p oceeds of the fi a ci g; isks elated to the issua ce, co ve sio , a d dilutio effects of equity secu ities; isks elated to digital assets a d toke – elated i itiatives; cha ges i ma ket co ditio s; cha ges i applicable laws o egulatio s; competitive p essu es; ge e al eco omic a d busi ess co ditio s; a d othe isks a d u ce tai ties desc ibed f om time to time i T uGolf’s fili gs with the Secu ities a d Excha ge Commissio .
Although ma ageme t believes that the assumptio s a d expectatio s eflected i the fo wa d-looki g stateme ts a e easo able as of the date he eof, o assu a ce ca be give that such expectatio s will p ove to be co ect. Reade s a e cautio ed ot to place u due elia ce o fo wa d-looki g stateme ts. Fo wa d-looki g stateme ts speak o ly as of the date they a e made, a d T uGolf u de takes o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by applicable law.
