04:43 PM EST, 01/24/2025 (MT Newswires) -- The Marygold Cos ( MGLD ). (MGLD) commenced an underwritten public offering of common stock.

The underwriter has a 45-day option to buy up to an additional 15% of the shares at the public offering price, minus underwriting discounts and commissions, the company said Friday in a statement.

Net proceeds are expected to be used to reduce debt, make additional capital contributions to US and UK subsidiaries and for general working capital and corporate purposes, the company said.

Shares of the company fell 8.9% in after-hours trading.

Price: 1.43, Change: -0.14, Percent Change: -8.92