Marygold Prices Underwritten Public Offering Of 2.05 Mln Shares At $1.10/shr

(RTTNews) - The Marygold Companies Inc. (MGLD) announced the pricing of an underwritten public offering of 2.05 million shares of its common stock at a price to the public of $1.10 per share.

The company expects gross proceeds from the offering to be approximately $2.26 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about January 28, 2025, subject to customary closing conditions.

In addition, Marygold has granted the underwriters a 45-day option to purchase up to 307,500 additional shares of common stock at the public offering price, less the underwriting discounts and commissions.

Maxim Group LLC is acting as the sole book-running manager for the offering.

The company plans to use a portion of the net proceeds from the offering to retire or reduce debt, make further capital contributions to its Marygold & Co. subsidiaries in the U.S. and U.K., and for other general working capital and corporate purposes.