Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 60

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 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 any of our securities without Maxim’s
prior written consent; and (ii) each of the Company’s directors, officers, and affiliates who are holders of the Company’s
shares as of January 26, 2025, (and all holders of securities exercisable for or convertible into shares of our common stock) have agreed,
for a period of 120 days after the closing of the Offering, subject to certain exceptions, not to offer, issue, sell, contract to sell,
encumber, grant any option for the sale of or otherwise dispose of any of the Company’s securities, including shares of Common
Stock issuable upon exercise of currently outstanding options granted to any such person; provided that the Company’s employees
who are issued shares pursuant to its employee incentive plans that have vested or vest in the future are not subject to such restriction.
Maxim may in its sole discretion and at any time without notice release some or all of the shares subject to the lock-up agreements prior
to the expiration of the lock-up period. When determining whether or not to release shares from the lock-up agreements, Maxim will consider,
among other factors, the security holder’s reasons for requesting release, the number of shares for which the release is being
requested and market conditions at the time.

Pursuant
to the Underwriting Agreement, the Company agreed to indemnify Maxim against liabilities relating to the Offering arising under the Securities
Act of 1933, as