CAMARILLO, Calif.—Gregor Alasdair Campbell, Executive Chairman of Sacks Parente Golf, Inc. (NASDAQ:SPGC), recently acquired 4,000 shares of the company's common stock, according to a recent SEC filing. The shares were purchased at a price of $0.29 each, totaling an investment of $1,160. Following this transaction, Campbell now holds 44,337 shares directly. The purchase comes as the stock trades at a Price/Book ratio of 0.21, with the company maintaining strong gross profit margins of 61%. According to InvestingPro data, the stock has experienced a significant decline of 96% over the past year, with technical indicators suggesting oversold conditions. For deeper insights into insider trading patterns and additional analysis, InvestingPro subscribers have access to 18 more exclusive tips about SPGC.
In other recent news, Sacks Parente Golf has announced an $8.4 million public offering. The offering, structured at $1.20 per common unit and $1.199 for each pre-funded unit, is expected to provide funds for general corporate use and working capital. Aegis Capital Corp. has the option to purchase up to an additional 15% of shares and warrants for over-allotments.
In parallel, Newton Golf, a subsidiary of Sacks Parente, has expanded its reach into the Japanese market, offering its Newton Motion shafts through retail and e-commerce channels. These developments are part of Newton Golf's strategic expansion plan, which includes potential growth into golf apparel and other related product lines.
On the personnel front, Newton Golf has announced major changes in its executive team. Doug Samuelson has been appointed as the new Chief Financial Officer, replacing Steve Handy. Additionally, Gregor Campbell has been confirmed as the company's Executive Chairman. These recent developments underline both Sacks Parente Golf and Newton Golf's commitment to their strategic growth plans and providing value to their shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.