# EDGAR Filing Document

**Accession Number:** 0001857086
**File Stem:** 0001641172-25-013299
**Filing Date:** 2025-6
**Character Count:** 12681
**Document Hash:** 37f99ab90fc4bd1e3de0c0fafde75401
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-013299.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 0001641172-25-013299

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250530

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250602

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TruGolf Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001857086
- **STANDARD INDUSTRIAL CLASSIFICATION:** [3949]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 853269086
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40970
- **FILM NUMBER:** 251016495

**BUSINESS ADDRESS:**
- **STREET 1:** 7951 S.W. 6TH STREET, SUITE 216
- **CITY:** PLANTATION
- **STATE:** FL
- **ZIP:** 33324
- **BUSINESS PHONE:** 9544242345

**MAIL ADDRESS:**
- **STREET 1:** 7951 S.W. 6TH STREET, SUITE 216
- **CITY:** PLANTATION
- **STATE:** FL
- **ZIP:** 33324

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Deep Medicine Acquisition Corp.
- **DATE OF NAME CHANGE:** 20210414

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **May 30, 2025**

**TruGolf Holdings, Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40970** | **85-3269086** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

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| | |
|:---|:---|
| **60 North 1400 West Centerville, Utah** | **84014** |
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(917) 289-2776**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.0001 par value per share | TRUG | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

At a special meeting of stockholders held on May 30, 2025 (the "Special Meeting") of TruGolf Holdings, Inc. (the "Company"), the Company's stockholders approved a proposal to approve a Certificate of Amendment to the Company's Third Amended and Restated Certificate of Incorporation (the "Certificate Amendment") which would amend the Company's existing certificate of incorporation, as amended, to increase the number of authorized shares of the Company's Class A Common Stock from 90,000,000 shares to 650,000,000 shares. The Certificate Amendment became effective upon filing with the Delaware Secretary of State on June 2, 2025. A copy of the Certificate Amendment is filed as Exhibit 3.1 hereto and is incorporated in this Item 5.03 by reference.

**Item 5.07 Submission of Matters to a Vote of Security Holders.**

During the Special Meeting stockholders voted on the four proposals listed below. The final voting results with respect to each proposal are also set forth below. As of the record date for the Special Meeting, there were 45,650,200 shares of common stock outstanding, of which 35,650,201 shares are Class A common stock and 9,999,999 shares are Class B common stock. Each outstanding share of our Class A common stock entitled its holder to one vote on each of the matters to be voted on at the Special Meeting, and each outstanding share of our Class B common stock entitled its holder to 25 votes on each proposal at the Special Meeting.

 

*Proposal 1:*

The Nasdaq Proposal: To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), our issuance of all of the shares of our Class A common stock upon conversion of the Company's Series A Preferred Stock, without regard to any limitations on conversion or exercise set forth in the Certificate of Designations of Rights and Preferences of Series A Preferred Stock, and assuming all Series A Convertible Preferred Warrants (the "Preferred Warrants") have been issued and exercised and all adjustments with respect to such issuances shall have been made to the Series A Preferred Stock and Preferred Warrants, as applicable.

<u>For</u> <u>Against</u> <u>Abstentions</u> <br> 260,683,188 1,124,928 21,499

 

*Proposal 2:*

The Reverse Split Proposal: To approve an amendment to the Company's amended and restated certificate of incorporation to grant our Board of Directors authority to effect a reverse stock split of the outstanding shares of the Company's common stock, at a reverse stock split ratio of between 1-for-5 to 1-for-75 (or any whole number in between), as determined by the Board in its sole discretion, prior to the one-year anniversary of this Special Meeting.

<u>For</u> <u>Against</u> <u>Abstentions</u> <br> 260,028,322 1,794,112 7,181

*Proposal 3:*

The Share Increase Proposal: To approve an amendment to our Amended and Restated Certificate of Incorporation, as amended (the "Charter") to increase the number of our authorized shares of Class A Common Stock from 90,000,000 shares to 650,000,000 shares and to make a corresponding change to the number of authorized shares of capital stock.

<u>For</u> <u>Against</u> <u>Abstentions</u> <br> 259,971,212 1,727,044 131,359

*Proposal 4:*

The Adjournment Proposal: To approve an adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposals 1, 2, or 3.

<u>For</u> <u>Against</u> <u>Abstentions</u> <br> 260,576,595 1,198,019 55,000

**Item 8.01 Other Events.**

As previously disclosed, TruGolf Holdings, Inc, Inc. (the "Company") received a deficiency letter from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") notifying the Company that the listing of its Class A common stock was not in compliance with: (i) the minimum Market Value of Publicly Held Shares requirement set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the "MVPHS Rule"); (ii) the minimum bid price requirement of $1.00 per share set forth in Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"); and (iii) the minimum shareholders' equity requirement set forth in Nasdaq Listing Rule 5450(b)(1)(A) (the "Equity Rule").

The Company requested a hearing before a Nasdaq hearing panel (the "Panel") to present a plan to regain compliance with all the continued listing requirements of Nasdaq and such hearing was held May 15, 2025. On May 30, 2025, the Panel provided the Company a temporary exception to regain compliance with the Bid Price Rule until July 8, 2025 and with the MVPHS Rule and Equity Rule until July 30, 2025. In addition, the Panel directed that the Company's listing be transferred to the Nasdaq Capital Market, effective at the open of business on June 3, 2025.

The Panel reserves the right to reconsider the terms of this exception based on any event, condition or circumstance that exists or develops that would, in the opinion of the Panel, make continued listing of the Company's securities on Nasdaq inadvisable or unwarranted. The Panel notification advised the Company that the Nasdaq Listing and Hearing Review Council may, on its own motion, determine to review any Panel decision within 45 calendar days after issuance of the written decision. If the Listing Council determines to review the Panel's decision in the Company's matter, it may affirm, modify, reverse, dismiss or remand the decision to the Panel.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Amendment to Third Amended and Restated Certificate of Incorporation of TruGolf Holdings, Inc., dated June 2, 2025](ex3-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: June 2, 2025 | **TRUGOLF HOLDINGS, INC.** | **TRUGOLF HOLDINGS, INC.** |
|  | By: | */s/ Christopher Jones* |
|  | Name: | Christopher Jones |
|  | Title: | Chief Executive Officer |

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## Exhibit 3.1

**Exhibit 3.1**

**CERTIFICATE OF AMENDMENT**

**TO THE**

**THIRD AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION**

**OF**

**TRUGOLF HOLDINGS, INC.**

TruGolf Holdings, Inc. (the "Corporation"), a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware, does hereby certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Corporation is TruGolf Holdings, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Amended and Restated Certificate of Incorporation of the Corporation was filed with the Secretary of State of Delaware effective as of January 31, 2024 (as amended and corrected, the "Certificate of Incorporation").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Resolutions were duly adopted by the Board of Directors of the Corporation setting forth this proposed Amendment to the Certificate of Incorporation and declaring said amendment to be advisable and calling for the consideration and approval thereof at a meeting of the stockholders of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The Certificate of Incorporation is hereby amended by amending Section 4.1 of Article IV as follows:

"The total number of shares of all classes of capital stock, each with a par value of $0.0001 per share, which the Corporation is authorized to issue is 670,000,000 shares, consisting of (a) 660,000,000 shares of common stock (the "***Common Stock***"), including (i) 650,000,000 shares of Class A Common Stock (the "***Class A Common Stock***"), and (ii) 10,000,000 shares of Class B Common Stock (the "***Class B Common Stock***"), and (b) 10,000,000 shares of preferred stock (the "***Preferred Stock***")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Pursuant to the resolution of the Board of Directors, a meeting of the stockholders of the Corporation was duly called and held upon notice in accordance with Section 222 of the General Corporation Law of the State of Delaware at which meeting the necessary number of shares as required by statute were voted in favor of the foregoing amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The foregoing amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. This amendment shall be effective as of 4:01 p.m., Eastern Time, on June 2, 2025.

IN WITNESS WHEREOF, I have signed this Certificate this 2nd day of June 2025.

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| | |
|:---|:---|
| TRUGOLF HOLDINGS, INC. | TRUGOLF HOLDINGS, INC. |
| By: | */s/ Christopher Jones* |
| Name: | Christopher Jones |
| Title: | Chief Executive Officer |

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