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The Marygold Companies, Inc. reports developments as a global holding firm focused on financial services. Its recurring news includes financial results, portfolio actions, and subsidiary updates, led by USCF Investments, which manages, operates or advises exchange-traded products structured as limited partnerships or investment trusts that trade on NYSE Arca.
Company updates also cover Marygold & Co. U.K. investment advisory and mobile fintech operations, Original Sprout hair and skin care products, and the completed sale of the former Brigadier security systems subsidiary. Earnings releases discuss revenue trends, expense reductions, assets under management, fintech development costs, and balance-sheet measures across the holding-company portfolio.
USCF Investments, a subsidiary of The Marygold Companies (NYSE-American: MGLD), announced significant growth in its ETF Trust platform, surpassing $500 million in assets under management. The company's USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has been nominated for 'Commodity ETF of the Year' by ETF.com.
Launched in 2018, SDCI was designed to provide investors with dynamic, broad commodity exposure without requiring a K-1 tax form. The fund represents part of USCF's broader portfolio, which includes fifteen ETFs across commodity and alternative asset classes. The company, which pioneered the first oil ETF in 2006, now manages over $3 billion in total assets from its Walnut Creek, California headquarters.
The Marygold Companies (NYSE American: MGLD) has successfully closed its previously announced underwritten public offering. The company issued 2,050,000 shares of common stock at a public offering price of $1.10 per share, generating gross proceeds of approximately $2,255,000 before deducting underwriting discounts, commissions, and other offering expenses.
Maxim Group served as the sole book-running manager for the offering, which was conducted pursuant to an effective shelf registration statement on Form S-3. The offering was made available through a prospectus and prospectus supplement, with documentation accessible on the SEC's website.
The Marygold Companies (NYSE American: MGLD) has announced the pricing of an underwritten public offering of 2,050,000 shares of common stock at $1.10 per share. The offering is expected to generate gross proceeds of approximately $2,255,000 before deducting underwriting costs and other expenses.
The company has granted underwriters a 45-day option to purchase up to 307,500 additional shares at the public offering price. Maxim Group is serving as the sole book-running manager. The offering is expected to close around January 28, 2025.
The net proceeds will be used to retire or reduce debt, make capital contributions to Marygold & Co. subsidiaries in the U.S. and U.K., and for general working capital purposes.
The Marygold Companies (NYSE American: MGLD) has announced an underwritten public offering of its common stock. The company plans to grant the underwriter, Maxim Group , a 45-day option to purchase up to an additional 15% of the offered shares at the public offering price, less underwriting discounts and commissions.
The net proceeds will be used to:
- Retire or reduce debt
- Make capital contributions to Marygold & Co. subsidiaries in the U.S. and U.K.
- Fund general working capital and corporate purposes
The offering is being made through an effective shelf registration statement on Form S-3 filed with the SEC on December 18, 2024, and declared effective on December 27, 2024. The completion, size, and terms of the offering are subject to market conditions.
Marygold Companies (NYSE American: MGLD) has launched a new Cash Management Account feature in its mobile fintech banking app, offering up to 6% return through June 30, 2025, or until reaching $100 million in assets under management. The app, released in late 2023, combines various financial services including:
- Money Pools for tracking financial goals with pre-set investment portfolios
- Customizable spending limits
- Money management tools for savings tracking and money transfers
Developed in-house over four years, the app is currently available to U.S. consumers on iPhone and Android, with plans to launch a UK version soon.
The Marygold Companies (NYSE American: MGLD) reported financial results for Q1 FY2025. Revenue decreased to $7.9 million from $8.2 million year-over-year, with a net loss of $1.6 million ($0.04 per share) compared to a $0.5 million loss ($0.01 per share) in Q1 FY2024. Cash and equivalents increased to $6.7 million, while total assets rose to $35.9 million. The company's largest unit, UCSF Investments, saw average assets under management decline to $3.1 billion from $3.5 billion. The increased losses were attributed to continued investments in financial services, particularly in their proprietary mobile fintech app development and recent acquisition of stake in Midland Capital Holdings
The Marygold Companies (MGLD) has acquired a 7.95% ownership stake in Midland Capital Holdings (MCHC) for $1.8 million. MCHC's main operating entity, Midland Federal Savings and Loan Association, has $115 million in total assets and operates four branches in the Chicago area. The deal includes 180,044 warrants to purchase additional MCHC shares at $22.25, expiring in 2034. This acquisition aligns with Marygold's focus on financial services and fintech, following recent acquisitions of UK investment firms and the development of a mobile fintech app for spending, investing, and saving.
The Marygold Companies (NYSE American: MGLD) has secured $4.38 million in funding as part of a $6.56 million total private placement with Streeterville Capital, The funding will be used to implement next-stage initiatives for the company's Marygold & Co. project, including marketing its recently developed fintech app.
The app, soft-launched in the U.S. in 2023, offers a digital platform alternative to traditional banking, enabling users to spend, invest, and save. It features a digital wallet, physical debit card, and additional functionalities like unlimited money pool investing and PayAnyone™ capability. The company plans further U.S. market penetration and introduction in the U.K. later this year.
Maxim Group served as the exclusive agent for the private placement. A second funding portion is anticipated for January 2025, subject to certain conditions, with expected proceeds of approximately $2.0 million.
The Marygold Companies (NYSE American: MGLD) reported financial results for the fiscal year and fourth quarter ended June 30, 2024. Key points include:
- FY2024 revenue: $32.8 million (down from $34.9 million in FY2023)
- FY2024 net loss: $4.1 million ($0.10 per share), compared to net income of $1.2 million in FY2023
- Q4 2024 revenue: $8.3 million (down from $8.9 million in Q4 2023)
- Q4 2024 net loss: $1.9 million ($0.05 per share)
- Total assets: $32.9 million (down from $35.3 million)
- Cash and equivalents: $5.5 million (down from $8.2 million)
The company cited investments in its Marygold & Co. mobile fintech app, lower assets under management at USCF Investments, and an impairment charge for Original Sprout as factors impacting results.
The Marygold Companies (NYSE American: MGLD), a diversified global holding firm specializing in financial services, announced that its CEO, Nicholas Gerber, and COO, David Neibert, will present at the 2024 Maxim Fintech Virtual Symposium on June 25 at 2 p.m. EDT. This virtual event, accessible via M-Vest, will spotlight emerging companies in fintech, payments, and real estate leveraging advanced technology. TMC will showcase their new proprietary mobile fintech app, developed by their subsidiary Marygold & Co., discussing its innovative features and current development stage.