The Marygold Companies, a holding company with subsidiaries in fund management, food and beauty products, and security, announced terms for its NYSE American uplisting on Monday.
The San Clemente, CA-based company plans to raise $8 million by offering 2.4 million shares at $3.35, the January 24 close of its shares on the OTC Pink (CNCG). At the proposed price, The Marygold Companies would command a fully diluted market value of $137 million.
The Marygold Companies is a holding company with wholly-owned subsidiaries engaged in a variety of business activities, including commodity-focused fund management (58% of 1Q FY22 revenue), commercial food production (24%), hair and skin care beauty products (10%), and security systems (7%).
The Marygold Companies was founded in 1996 and booked $39 million in revenue for the 12 months ended September 30, 2021. It plans to list on the NYSE American under the symbol MGLD. Maxim Group LLC is the sole bookrunner on the deal.
