Golf Digest Online Inc. (TSE:3319) agreed to acquire 37% stake in Golftec Enterprises, LLC from Gart Capital Partners on September 22, 2022. Golf Digest Online will execute an investment agreement with Fivestar Mezzanine No.2 Investment Limited Partnership, pursuant to which Golf Digest Online issue to the Scheduled Allottee by way of third-party allotment on November 25, 2022 Class A Preferred Shares with an aggregate value of ¥6,000 million. Golf Digest Online will submit to an extraordinary shareholders meeting of the Company scheduled to be held on November 24, 2022 proposals relating to (i) the Capital Increase by Third-Party Allotment (including a special resolution pertaining to the favorable issuance of Class A Preferred Shares) and (ii) the Articles of Incorporation Amendment.

Golftec Enterprises has ¥624.8 million ($4.4 million) EBIT, ¥568 million ($4 million) Net Income and ¥10877.2 million ($76.6 million) as on December 2021.