Nicholas & Melinda Gerber Living Trust, under the direction of Nicholas D. Gerber, Chief Executive Officer of Marygold Companies, Inc. (NASDAQ:MGLD), recently purchased 42,149 shares of the company’s common stock. The transaction, reported on December 23, 2024, was executed on December 20, 2024, at a price of $1.721 per share, totaling approximately $72,538. Following this acquisition, the trust holds a total of 18,510,915 shares. The transaction reflects Gerber’s ongoing involvement and investment in the company.
In other recent news, The Marygold Companies, Inc. has secured an initial $4.38 million in funding through the sale of a secured promissory note to Streeterville Capital. This transaction is part of a larger $6.56 million private placement to advance the company’s fintech project, Marygold & Co. Maxim Group LLC acted as the exclusive agent for the private placement, with a second funding portion expected in January 2025, potentially adding an additional $2.0 million to The Marygold Companies’ funds.
The proceeds are earmarked for the next-stage initiatives of the Marygold & Co. project, primarily focusing on marketing its fintech app, a digital banking alternative. The app, which was soft-launched in the U.S. in 2023, includes a digital wallet, physical debit card, and a suite of financial management tools.
In a separate development, the shareholders of The Marygold Companies, Inc. recently endorsed executive pay. The company’s directors were elected, and the compensation of the company’s named executive officers for 2024 was approved. The advisory vote on the frequency of future votes on executive compensation resulted in a preference for a triennial review, aligning with the Board’s recommendation. These are among the recent developments for the company.
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