TruGolf Plans Polymath’s First Post-Merger Deployment for Franchise Records

TruGolf Holdings (NASDAQ: TRUG) plans to move its franchise equity records to a tokenized cap table on Polymesh, making the agreement the first announced use of Polymath inside the combined company after TruGolf’s acquisition.

TruGolf Links Franchising LLC and Polymath Research Inc. signed an intercompany agreement on Oct. 14 for Polymath to provide services and migrate the franchise business’s ownership records. The migration is expected to cover investor onboarding, identity checks and limits on transfers.

Polymesh is a public Layer-1 network with permissioned access, built for regulated assets such as digital securities. A cap table records a company’s equity ownership; tokenizing those records means representing them on a blockchain.

“TruGolf Links is our first deployment,” said Natalie Hirsch, TruGolf’s chief financial officer and chief operating officer and Polymath’s interim CEO.

TruGolf Holdings completed the Polymath acquisition on Oct. 8, making the Canadian digital securities company a wholly owned subsidiary. Polymath holders received 257,494 TruGolf Class A shares, representing 19.99% of pre-transaction common shares, plus 136,956 Series C convertible preferred shares. Each preferred share has a stated value of $1,000 and a conversion price of $11.82. Conversion requires stockholder and Nasdaq approvals.

The companies are also developing equipment-leasing and fractional franchise ownership opportunities for qualified franchisees. An initial rollout is targeted for the first quarter of 2027, and no securities are currently being offered.