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AI brief of an SEC Form 8-K · United States 12 Month Natural Gas Fund, LP (UNL)

United States 12 Month Natural Gas Fund: parent TMC agrees to all-cash buyout by MDP

Neutral Impact 5 of 5 m&a Written later

The Marygold Companies, Inc. (TMC), parent of the fund's general partner, agreed to sell itself to Madison Dearborn Partners (MDP) in an all-cash transaction, becoming a privately held company. The filing says the deal is expected to close in the first half of 2027 or earlier, subject to conditions including TMC stockholder approval, regulatory approvals and change-of-control approvals, and that there is no guarantee it will be completed.

Key points

  • TMC announced a definitive agreement with MDP on September 25, 2026.
  • TMC is the sole shareholder of USCF Investments, Inc., which is the sole member of United States Commodity Funds LLC, the fund's general partner.
  • Expected closing: first half of 2027 or earlier, subject to customary conditions.
  • Upon closing, TMC's common stock will no longer be listed on the New York Stock Exchange.

The filing

CompanyUnited States 12 Month Natural Gas Fund, LP (UNL)
Form8-K, current report
Filed with the SECSep 25, 2026, 5:30 PM ET
Accession number0002071876-26-000224

Items reported: 1.01 Material Definitive Agreement

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 25, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.