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MGLD News
MGLD Events
The Marygold Companies to sell subsidiary Brigadier Security Systems for $2.2M
The Marygold Companies announced that it has entered into a stock purchase agreement to sell its wholly owned Canadian subsidiary, Brigadier Security Systems to SKCAL, an Arizona limited liability company whose sole member is a director and 11% shareholder of TMC. The proposed transaction aligns with the company's corporate strategy to direct resources toward growth in the financial services sector. It is expected to close on or about July 1. Total consideration is estimated to be approximately $2.2M. The proposed transaction is subject to the customary prerequisites for transactions of this nature, including, but not limited to, completion of due diligence, board approval, fairness opinion and possible adjustments to purchase price after completion of audited financial statements. Proceeds from the sale of Brigadier will be used to pay down corporate debt and for general corporate purposes.
The Marygold Companies reports Q3 EPS (2c) vs. (1c) last year
Reports Q3 revenue $7M vs. $7.9M last year.
The Marygold Companies announces common stock offering, no amount given
The Marygold Companies announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares of common stock to be sold in the proposed offering will be sold by Marygold. Maxim Group is acting as the sole book-running manager for the proposed offering.
The Marygold Companies acquires 7.95% stake in MCHC
The Marygold Companies announced it has acquired a 7.95% ownership position, investing $1.8M in Delaware based Midland Capital Holdings Corporation MCHC a privately owned holding company whose principal operating entity is Midland Federal Savings and Loan Association or Midland Federal, headquartered in Bridgeview, Illinois. Operating continuously in the greater Chicago area since 1914, Midland Federal has total assets of approximately $115M , with four full-service branch offices-two in Chicago, and in nearby Bridgeview and Homer Glen, Illinois. As part of the transaction, TMC also holds 180,044 warrants to purchase 180,044 additional shares of MCHC at an exercise price of $22.25. The warrants expire on February 27, 2034. "The transaction affirms our corporate strategy and focus on the financial services and fintech sector," said Nicholas Gerber, CEO of TMC. "It follows our recent acquisitions of UK-based investment advisory firms Tiger Financial & Asset Management and Step By Step Financial Planners, which are now wholly owned TMC indirect subsidiaries, plus our long-established ETF management subsidiary, USCF Investments, with approximately $3.2B in assets under management.
The Marygold Companies secures private placement to fund fintech rollout
The Marygold Companies announced it has secured $4.38M in funding as part of a $6.56M total private placement with Streeterville Capital, an institutional investment firm, through the sale of the company's secured promissory note. Net proceeds will be used exclusively to implement next-stage initiatives for the company's Marygold & Co. project, including initial marketing of its recently developed fintech app., a digital platform alternative to traditional banking that enables users to spend, invest and save. "As part of our strategic plan to develop and test the viability of the platform, we invested more than $15M over the past five years from cash and profits internally generated by our operating subsidiaries," said Nicholas Gerber, TMC's chief executive officer. "With the critical development and initial testing phase now successfully behind us, we are pleased to have attracted external funding for the rollout stage, which we believe attests to the uniqueness of the app and the long-term potential of its commercial success. "The app was soft-launched in the U.S. in 2023 by our Denver-based subsidiary, Marygold & Co., and plans are underway for further U.S. market penetration.
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