Madison Dearborn Partners to Acquire Marygold for $2.00 Per Share

Madison Dearborn Partners (MDP) has entered into a definitive agreement to acquire all outstanding shares of The Marygold Companies, Inc. (NYSE American: MGLD) in an all-cash transaction that will take the company private. Marygold stockholders are set to receive $2.00 per share, a price representing a 100% premium over the company's closing share price on September 24, 2026.

The deal centers on USCF, a wholly-owned subsidiary of Marygold that manages approximately $6 billion in assets under management. USCF operates as a commodity-focused exchange-traded fund (ETF) manager with positions in oil, natural gas, copper, broad commodity indices, and equity income solutions. Following the transaction's close, MDP plans to provide capital investment to USCF to support continued growth and product excellence while executing the company's previously announced strategy to refocus on its financial services operations.

Tim Rotolo is named as the incoming CEO of Marygold. Rotolo brings more than 15 years of experience in ETFs and institutional capital raising, having previously launched and scaled thematic ETF platforms, including the uranium mining ETF URNM, which grew to over $1 billion before being sold to Sprott Asset Management. He will partner with MDP and USCF leadership to scale the ETF platform, focusing on operational excellence, product optimization, and sub-advisory relationships.

The Marygold Board voted unanimously to approve the transaction. Certain stockholders, including outgoing President, CEO, and Chairman Nicholas Gerber, who collectively beneficially own approximately 75% of Marygold's outstanding shares, have signed voting and support agreements to vote in favor of the deal. The transaction is expected to close during the first half of 2027 or earlier, subject to customary closing conditions such as stockholder approval and regulatory clearances.

RBC Capital Markets served as the exclusive financial advisor to MDP. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morgan, Lewis & Bockius LLP acted as legal advisors to MDP and Rotolo, while Holland & Hart LLP served as legal advisor to Marygold. Upon completion, Marygold will become a privately held company and its common stock will be delisted from the NYSE American LLC.