TruGolf Holdings (NASDAQ: TRUG) Completes Polymath Acquisition, Offering Expansion into Institutional Tokenization

At a glance

Company: TruGolf Holdings
Ticker: NASDAQ: TRUG
Announcement: Acquisition

Key figures

Tokenized assets issued by Polymath as of December 31, 2025: more than $132 million
Active Polymath issuers: over 65
Net proceeds from warrant exercise: $2.95 million

People

Natalie HirschGroup CFO and COO

Products and programs

Polymesh
TruGolf Links

The acquisition adds regulated digital-asset infrastructure to TruGolf’s existing golf simulation technology business.
Polymath developed Polymesh, a Layer-1 blockchain designed for regulated securities and tokenized real-world assets.
As of December 31, 2025, Polymath had issued more than $132 million in tokenized assets for over 65 active issuers.
The combined company plans to pursue two complementary businesses: golf simulation technology and institutional tokenization infrastructure.
TruGolf Links and Polymath are developing tokenized financing for equipment leasing and fractional franchise ownership, with initiatives targeted for the first quarter of 2027.
TruGolf has also appointed Natalie Hirsch as Group CFO and COO, while a warrant exercise generated $2.95 million in net proceeds.

TruGolf Holdings (NASDAQ: TRUG), a producer of advanced golf simulation systems for home or entertainment venues, has completed its acquisition of Polymath Research Inc., bringing a blockchain platform designed for regulated financial assets into the publicly traded golf technology company’s business.

Announced October 9, the transaction combines TruGolf’s golf simulation hardware and software operations with Polymath’s infrastructure for issuing and managing tokenized securities. Polymath will operate as a wholly owned subsidiary, while…

Questions around this news

What did the Polymath acquisition add to the combined company?
The completed acquisition brought Polymath Research Inc. into the business as a wholly owned subsidiary. Its infrastructure is designed to issue and manage tokenized securities, complementing TruGolf’s existing golf simulation hardware and software operations. The release says the combined company intends to pursue both golf simulation technology and institutional tokenization infrastructure.
What is a Layer-1 blockchain, and what is Polymesh designed to do?
A Layer-1 blockchain is a base network that processes and records transactions without relying on another blockchain as its settlement layer. The release describes Polymesh as designed for regulated securities and tokenized real-world assets. Networks for regulated financial assets may incorporate features intended to support identity checks and compliance requirements.
What does tokenizing a real-world asset mean?
Tokenization represents an asset or a financial interest in it as digital tokens recorded on a blockchain. Depending on the structure, tokens may represent ownership, a claim to cash flows, or another contractual right. The tokens’ legal rights and transfer rules depend on the relevant arrangements and applicable regulations.

SEC filings

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