Listed company TruGolf completes acquisition of Polymath Research, enters institutional-grade asset tokenization business.

October 9 — Nasdaq-listed company TruGolf Holdings (TRUG) announced that it has completed the acquisition of Canadian asset tokenization company Polymath Research Inc. Polymath is an enterprise focused on institutional-grade asset tokenization and is the developer of Polymesh, a Layer 1 blockchain for regulated assets.

Following the completion of the acquisition, Polymath will operate as a wholly owned subsidiary of TruGolf, while TruGolf will continue to retain its original businesses, including golf simulators and the E6 platform, forming two business lines: golf technology and blockchain infrastructure.

As of December 31, 2025, Polymath had issued more than $132 million in tokenized assets for over 65 active issuers and had more than 50 ecosystem partners. The two parties also plan to launch equipment leasing tokenization and franchise fractional ownership projects in the first quarter of 2027.

In addition, TruGolf received approximately $2.95 million in net proceeds from the exercise of Series B preferred stock warrants related to this transaction.