United States Gasoline Fund Reports Parent Company Going Private Deal

What Happened
On September 25, 2026, The Marygold Companies, Inc. (“TMC”) announced it entered a definitive agreement to be acquired by Madison Dearborn Partners (“MDP”) in an all-cash transaction. TMC is the sole shareholder of USCF Investments, Inc., the holding company and sole member of United States Commodity Funds LLC (“USCF”), which is the general partner of United States Gasoline Fund, LP (UGA). The Transaction is expected to close in the first half of 2027 or earlier, subject to customary closing conditions, including approval by TMC stockholders, regulatory approvals, and required change‑of‑control consents. TMC’s common stock will no longer be listed on the NYSE after the deal closes. The filing notes there is no guarantee the Transaction will be completed.

Key Details

• Announcement date: September 25, 2026.
• Buyer: Madison Dearborn Partners (MDP), a Chicago-based private equity firm.
• Structure: All-cash take-private transaction for The Marygold Companies, Inc. (TMC).
• Timing and approvals: Expected close in H1 2027 (or earlier) pending TMC stockholder vote, regulatory approvals, and certain change-of-control approvals.
• Corporate link: TMC → USCF Investments, Inc. → United States Commodity Funds LLC (general partner of UGA). MDP and TMC intend to pursue a previously announced transformation strategy for USCF after closing.

Why It Matters
A change in ownership of the ultimate parent and general partner (via USCF) could lead to shifts in governance, strategic direction or management of the fund’s adviser/general partner operations. Investors should note the potential for changes in how the fund is run if the Transaction closes—and that TMC’s NYSE listing will be removed. The 8‑K does not provide financial terms or guarantees; completion depends on customary approvals, so investors should monitor future filings for material updates (e.g., closing, any required consents, or proposed changes to USCF’s operations).