Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 15

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 the purchase of its Saskatoon office
land and building. The bank loan matured and was paid off in full in July 2024.

    15

NOTE
9. STOCKHOLDERS’ EQUITY

Public
Stock Offering

On
January 28, 2025, the Company closed on the sale of an aggregate of 2,050,000 shares of its common stock, $0.001 par value per share
(“Common Stock”), at a price to the public of $1.10 per share (before deduction of underwriting discounts and commissions),
in a firm commitment underwritten public offering pursuant to an underwriting agreement, dated January 26, 2025 (“Underwriting
Agreement”), between the Company and the Maxim Group LLC (“Maxim”) as sole underwriter and book-running manager for
the offering (“Offering”). Pursuant to the Underwriting Agreement, the Company granted the underwriter a 45-day option to
purchase up to an additional 307,500 shares of its Common Stock at the public offering price before deduction of underwriting discounts
and commissions (“Overallotment Option”). Maxim did not exercise its Overallotment Option.

The
net proceeds of the offering to the Company, after deducting underwriting discounts and commissions and offering expenses, was $1.8 million.
The Company intends to use a portion of the net proceeds from the Offering to retire or reduce debt, make additional investments in its
financial services operations, and for other general working capital and corporate purposes.

Pursuant
to the Underwriting Agreement, the Company has agreed that, until January 25, 2026, Maxim will have a right of first refusal to act as
sole managing underwriter and sole book runner, sole placement agent, or sole sales agent, for any and all future registered offerings
or private placements of the Company’s equity, equity-linked or debt securities for which we retain the service of an underwriter,
agent, advisor, finder or other person or entity in connection with such offering during such period. Also, the Company has agreed not
to offer to retain any entity or person in connection with such an offering on terms more favorable than the terms on which the Company
offers to retain Maxim.

Subject
to certain limited exceptions, the Company has agreed for a period of 120 days after the closing of the Offering not to (i) offer, issue,
sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of