The Marygold Companies acquires 7.95% stake in MCHC

The Marygold Companies (MGLD) announced it has acquired a 7.95% ownership position, investing $1.8M in Delaware based Midland Capital Holdings Corporation MCHC a privately owned holding company whose principal operating entity is Midland Federal Savings and Loan Association or Midland Federal, headquartered in Bridgeview, Illinois. Operating continuously in the greater Chicago area since 1914, Midland Federal has total assets of approximately $115M , with four full-service branch offices-two in Chicago, and in nearby Bridgeview and Homer Glen, Illinois. As part of the transaction, TMC also holds 180,044 warrants to purchase 180,044 additional shares of MCHC at an exercise price of $22.25. The warrants expire on February 27, 2034. “The transaction affirms our corporate strategy and focus on the financial services and fintech sector,” said Nicholas Gerber, CEO of TMC. “It follows our recent acquisitions of UK-based investment advisory firms Tiger Financial & Asset Management and Step By Step Financial Planners, which are now wholly owned TMC indirect subsidiaries, plus our long-established ETF management subsidiary, USCF Investments, with approximately $3.2B in assets under management.