SCHEDULE 13G/A: Greentree Financial Group Discloses Significant 9.99% Stake in TruGolf Holdings

Greentree Financial Group, Inc. has filed an amended Schedule 13G, revealing a beneficial ownership of 9.99% of TruGolf Holdings, Inc.'s Class A Common Stock, held for passive investment purposes.

Summary

• Greentree Financial Group, Inc. (the "Reporting Person") has reported beneficial ownership of 3,064,924 shares of TruGolf Holdings, Inc.'s Class A Common Stock.
• This ownership represents 9.99% of the total outstanding Class A Common Stock of TruGolf Holdings, Inc.
• The calculation is based on 30,958,824 shares of TruGolf Holdings, Inc.'s Common Stock outstanding as of May 2, 2025.
• The beneficial ownership comprises 2,953,434 shares held directly by Greentree Financial Group, Inc. and an additional 111,490 shares issuable upon the conversion of a promissory note.
• Greentree Financial Group, Inc. holds sole voting power and sole dispositive power over all 3,064,924 beneficially owned shares.
• The filing certifies that the shares were not acquired or held for the purpose of changing or influencing the control of TruGolf Holdings, Inc.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. The disclosure of a significant, passive stake by a financial group can be seen as a vote of confidence in the company, without the potential disruption of an activist investor.

Positives

• The disclosure of a significant stake by Greentree Financial Group, Inc. may signal confidence in TruGolf Holdings, Inc.'s long-term prospects.
• The certification that the shares are not held for the purpose of changing or influencing control indicates a passive investment, which can be viewed positively by existing management and shareholders as it suggests stability rather than potential activist intervention.

Future Outlook

The document does not provide specific forward-looking statements or guidance regarding TruGolf Holdings, Inc.'s future performance or strategic direction, focusing solely on the beneficial ownership disclosure.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." Robert C. Cottone, Vice-President of Greentree Financial Group, Inc.
• "The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates a significant passive investment by a financial group in a publicly traded company. Such disclosures are common in the financial industry, reflecting institutional investors taking positions in companies they believe have growth potential, without seeking to exert control over management.

Stakeholder Impact

• Shareholders: Increased institutional ownership may lead to greater market confidence and liquidity. The passive nature of the investment suggests no immediate threat of control change.
• Management: The passive investment stance by Greentree Financial Group, Inc. indicates that current management is not facing an immediate challenge to control.

Key Dates

Keywords

TruGolf Holdings, Greentree Financial Group, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Investment, Shareholding, Convertible Note