Marygold Companies slumps after pricing stock offering

Marygold Companies

27/01/2025 10:36

** Marygold Companies  MGLD.A  shares plunge 30.6% to $1.09
in premarket trading
    ** MGLD late Sunday priced its stock offering of roughly 2.1
mln shares at $1.10 each for gross proceeds of $2.25 mln
    ** Offering priced at a 30% discount to the last close
    ** MGLD has 40.2 mln outstanding shares for $63.1 mln market
 capitalization - LSEG data
    ** Maxim Group was the sole book-running manager for the
offering
    ** Co intends to use a portion of the net proceeds from the
offering to cut debt and other purposes
    ** MGLD shares soared 66% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))