ProLink Holdings Corp., the world’s largest provider of Global Positioning System golf course management systems and on-course advertising, has closed a preferred stock and warrant offering generating $10.4 million in gross proceeds being applied to the working capital of the Company. The financing was completed with institutional investors including Ashford Capital, Lewis Asset Management and Straus Capital among others. Merriman Curhan Ford & Co. and Noble International Investments, Inc acted as placement agents in this transaction.
Lawrence Bain, president and CEO of ProLink, commented, “In the last 90 days, ProLink has substantially strengthened its working capital position and overall financial condition. This financing represents the most significant step in that initiative. Today, ProLink is the strongest company in the golf cart GPS industry from a competitive and financial perspective, with more than 65% market share. This transaction now solidifies our footprint as the permanent player in this exploding market segment. We plan on continuing to invest in our infrastructure to support our existing and future clients with reliable and dependable long term products and customer support. We have the industry’s only balance sheet with substantial and positive shareholder equity.
“ProLink has made great strides with its media strategy led by strong systems growth around the world and has assembled an unrivaled team to drive advertising revenue, and ultimately, shareholder value. We are confident in our ability to continue to invest in growing the Company’s installed system base, expand to new golf courses around the globe, and secure long-term advertising contracts with some of the most recognizable brands in the world.”
“As the world’s leader in Golf GPS and with more than 17 million golfers utilizing ProLink’s GPS systems each year, ProLink is well-positioned to secure advertising contracts from leading organizations in the financial, travel and luxury good industries,” commented Austin Lewis, president of the Lewis Opportunity Fund. “Today’s busy lifestyle makes it increasingly difficult to reach affluent individuals, and ProLink’s installed base provides advertisers with an ideal solution for reaching this prime demographic. We are excited to partner with ProLink and become significant investors as the Company executes its aggressive growth strategies.”
Based in Chandler, Arizona, ProLink Holdings Corp.’s industry-leading technology and marketing richness has been installed on more 700 resort, private and public courses worldwide – more than 525 of which are advertising-ready – more than triple the installations of all its competitors combined. Via its international distributors, ProLink is being rapidly adopted throughout Europe, South Africa, the Middle East, Australia and Japan.