BUZZ-Marygold Companies slumps after pricing stock offering

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