Deep Medicine Acquisition said it filed an S-4 outlining its proposed merger with TruGolf, a golf simulator manufacturer and distributor based in Salt Lake City, Utah.
Announced in March, the deal has an implied enterprise value for TruGolf of $125 million. The amount includes up to approximately $45 million of contingent consideration if certain milestones are met.
The target manufactures and sells a line of golf simulator equipment, including software and hardware, and is currently developing a new line of next-generation golf simulator products.
While the press release announcing the S-4 filing notes the deal is expected to close in the fourth quarter, Deep Medicine has some flexibility after winning shareholder approval for an extension up to Jan. 29, 2024, if necessary. Read more.
