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AI brief of an SEC Form 8-K · United States 12 Month Oil Fund, LP (USL)

United States 12 Month Oil Fund parent agrees to all-cash sale to MDP

Neutral Impact 4 of 5 m&a Written later

On September 25, 2026, The Marygold Companies, Inc. (TMC), which indirectly owns the general partner of this fund, agreed to be acquired by Madison Dearborn Partners in an all-cash transaction that would take TMC private. The deal is expected to close in the first half of 2027 or earlier, but it depends on TMC stockholder, regulatory and change-of-control approvals, and the filing says it may not be completed. TMC and MDP plan to refocus the general partner's business after closing.

Key points

  • On September 25, 2026, TMC announced a definitive agreement with Madison Dearborn Partners for an all-cash transaction.
  • TMC owns USCF Investments, Inc., which is the sole member of United States Commodity Funds LLC, the general partner of the fund.
  • Expected close is the first half of 2027 or earlier, subject to TMC stockholder, regulatory and change-of-control approvals.
  • After completion, TMC common stock would no longer be listed on the New York Stock Exchange.

The filing

CompanyUnited States 12 Month Oil Fund, LP (USL)
Form8-K, current report
Filed with the SECSep 25, 2026, 5:28 PM ET
Accession number0002071876-26-000222

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.