TruGolf Links has hired Polymath to provide professional services and has established an on-chain capital table on Polymesh to support the issuance of infrastructure and compliance, in conjunction with its franchise network expansion to over 221 committed stores.
Salt Lake City, October 14, 2026 / PRNewswire / -- TruGolf Holdings, Inc. (“TruGolf”) (Nasdaq ticker: TRUG) today announced that its franchise subsidiary TruGolf Links Franchising, LLC (“TruGolf Links”) has signed an inter-company agreement with TruGolf's tokenization subsidiary Polymath Research Inc (“Polymath”). Professional services will be provided by Polymath, and the capital structure of TruGolf Links will be migrated to Polymath's regulated digital securities infrastructure.
This agreement was reached six days after TruGolf completed its acquisition of Polymath on October 8, 2026, and it is also the first Polymath cooperation project signed following the merger. The agreement also lays the foundation for the equipment leasing plans currently being developed by TruGolf Links and Polymath, as well as for certain franchise rights opportunities for qualified franchisees, with a preliminary launch target set for the first quarter of 2027.
TruGolf Links is built on a model of regional developers, who are granted exclusive territories in markets with a population of 1 million or more. The network opened its flagship store in Cherry Hill Plaza in New Jersey in July, and its regional developers in New Jersey, New York, and Illinois represent a commitment to over 221 future stores. A franchise system that expands gradually by region requires ownership records that can keep up with the pace of expansion. According to the agreement, Polymath will migrate the equity records of TruGolf Links to the tokenized capital ledger on Polymesh. Polymesh is a regulated blockchain designed for compliant assets, and Polymath will also incorporate investor onboarding, identity verification, and transfer restrictions directly into the tokens, with the aim of helping to meet the requirements of applicable securities laws and regulatory concerns.
The result will be a single, real-time record of ownership that clearly shows who owns what, and compliance requirements will be embedded within the assets themselves. For TruGolf Links, this means that its capital structure is already prepared for expansion. TruGolf Links President Nate Larsen stated:
“TruGolf has proven for over 40 years that golf is suitable to be played indoors. Each putting green we offer operates on the reliable simulation technology of TruGolf. Now, the business behind these putting greens is powered by the technology that we believe the capital market is moving towards. We have created the future of golf. This is the next chapter: how it will be owned.”
For Polymath, this collaboration will transform the vision behind the acquisition into actual deployment. Natalie Hirsch, who is the Chief Financial Officer and Chief Operating Officer of TruGolf, and also serves as the interim CEO and Chief Financial Officer of Polymath, stated:
"When we merged TruGolf and Polymath, the vision was clear: to operate real businesses in conjunction with infrastructure that modernizes their ownership and financing methods. Six days after the transaction was completed, this vision came to fruition within our own system. TruGolf Links was our first deployment, providing a working model for every growing private company, demonstrating what a tokenized capital structure looks like in practice."
Polymath was established in 2017, and it introduced the ST-20 securities token standard. In 2021, it launched Polymesh – its public, licensed Layer-1 blockchain, where identity management, compliance, and settlement are all built-in to the blockchain itself.
About TruGolf
Since 1983, TruGolf has been driving the development of the golf industry through innovative indoor golf solutions. TruGolf creates products that reflect the spirit of golf. The mission of TruGolf is to make this sport more accessible, more approachable, and more affordable through technology, because TruGolf believes that golf belongs to everyone. The TruGolf team has developed award-winning video games, innovative hardware solutions, and a brand-new esports platform E6 to connect golf enthusiasts around the world. Since its establishment, TruGolf has continuously defined and redefined the possibilities of golf technology.
About TruGolf Links
TruGolf Holdings, Inc's wholly-owned subsidiaries TruGolf Links Franchising and LLC provide realistic indoor golf experiences driven by TruGolf's simulation technology, covering membership, leagues, courses, national championships, and private events. TruGolf Links offers franchise opportunities nationwide, with a strategic focus on acquiring regional developers in exclusive areas with populations of over 1 million people.
For more information, please visit trugolflinks.com.
About Polymath
Polymath is a Canadian technology company that develops technologies for enterprise-level capital market infrastructure, used for the issuance, compliance, and full lifecycle management of regulated digital securities and other tokenized financial instruments.
Polymath helps issuers, investors, and market participants to create and manage tokenized representations of real-world assets within a compliant framework, supporting investor onboarding, regulatory control, and post-issuance management, covering both private and institutional markets.
Leveraging its deep expertise in blockchain capital market infrastructure, Polymath provides technical support for scalable and compliant tokenization of securities across various asset classes, including real-world assets, private equity, and structured financial products. The solutions offered by Polymath are specifically designed for institutional use and to accommodate the evolving regulatory environment.
For more information, please visit polymath.network.
Important Notice
This announcement does not involve any securities issuance at this time. Any future issuances, including equipment leasing or partial franchise opportunities, will be conducted in accordance with the applicable issuance documents and relevant securities laws and regulations. This press release does not constitute an offer to sell any securities or an invitation to purchase any securities, nor does it constitute any investment advice.
Forward-looking Statements
This press release contains forward-looking statements as defined by the Securities Litigation Reform Act of 1995, Section 27A of the Revised Securities Act of 1933, and Section 21E of the Revised Securities Exchange Act of 1934, as well as forward-looking information as defined by the applicable securities laws. Forward-looking statements are statements that are not historical facts and include beliefs, plans, expectations, intentions, estimates, projections, or assumptions regarding future events or performance.
Forward-looking statements in this press release include, but are not limited to: the benefits expected to be derived from the services and agreements provided by Polymath to TruGolf Links; the migration of TruGolf Links's capital structure to a tokenized form; the anticipated development and timeline for the equipment leasing program and certain franchise opportunities under TruGolf Links; the expected growth of the franchise network under TruGolf Links; and the expected benefits from the acquisition of Polymath by TruGolf.
Forward-looking statements are typically identified by phrases such as “anticipates”, “believes”, “expects”, “intends”, “plans”, “projects”, “estimates”, “may”, “will”, “would”, “could”, “should”, and their negative forms. These statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or developments to differ significantly from those expressed or implied in the forward-looking statements.
Factors that may lead to significant differences between actual results and those anticipated in forward-looking statements include, but are not limited to: the ability of TruGolf to successfully integrate Polymath's business and achieve the expected acquisition benefits; the ability of TruGolf Links to open the promised stores; risks related to digital assets, tokenized securities, and token-related initiatives; changes in market conditions; changes in applicable laws or regulations; competitive pressures; the overall economic and business environment; as well as other risks and uncertainties mentioned in the documents TruGolf submits from time to time to the U.S. Securities and Exchange Commission.
Although management believes that the assumptions and expectations reflected in this press release were reasonable as of the date of issuance, there is no guarantee that these expectations will necessarily be realized. Readers are reminded not to rely excessively on forward-looking statements. Forward-looking statements are only valid as of the date they are made, and except as required by applicable law, TruGolf assumes no obligation to update or revise any forward-looking statements due to new information, future events, or other reasons.
