Sacks Parente Golf, which designs and manufactures premium golf putters, announced terms for its IPO on Friday.
The Camarillo, CA-based company plans to raise $20 million by offering 4.4 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Sacks Parente Golf would command a market value of $88 million.
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 United States.
Sacks Parente Golf was founded in 2018. It plans to list on the Nasdaq under the symbol SPGC. The Benchmark Company is the sole bookrunner on the deal.
