Monitor for TMC stockholder vote and regulatory approvals in coming months; any material changes to USCF's management or fee structure could indirectly affect USO's expense ratio or operations, but no near-term impact on USO's NAV or trading is expected.
Price Chart
Executive Summary
The Marygold Companies, Inc. (TMC), the sole shareholder of USCF Investments (which controls USO's general partner), entered into a definitive agreement to be taken private by Madison Dearborn Partners in an all-cash transaction. The deal is expected to close in H1 2027, subject to stockholder and regulatory approvals. For USO unitholders, this is a remote structural change at the GP level with no direct financial terms disclosed.
Key Financial Metrics
Key Facts
- TMC (parent of USO's general partner) agreed to be acquired by Madison Dearborn Partners in an all-cash transaction.
- Transaction expected to close during first half of 2027 or earlier upon satisfaction of customary conditions.
- No deal value, price per share, or premium disclosed in the filing.
- Post-close, MDP and TMC leaders plan to execute TMC's previously announced transformation strategy to refocus USCF's business.
- USO's trading symbol and exchange listing (NYSE Arca) are not directly affected by this transaction.
Financial Impact
No financial terms disclosed; deal value, price, and premium are not stated in the filing.
Risk Factors
- Transaction may not close within expected timeframe or at all.
- Post-closing strategy changes at USCF could alter USO's management or fee arrangements.
- No financial terms disclosed limits ability to assess value implications for USO unitholders.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002071876-26-000219 |
| Document: 0002071876-26-000219-index-headers.html | 0002071876-26-000219 |
| Document: 0002071876-26-000219-index.html | 0002071876-26-000219 |
| Document: 0002071876-26-000219.txt | 0002071876-26-000219 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 28d ago | 8-K | $143.35 $163.88 | ▲ +14.32% | ▲ +13.61% | $163.88 (+14.32%) |
Sep 25, 2026 4w ago | 8-K | $150.01 $166.23 | ▲ +10.81% | ▲ +10.84% | $163.88 (+9.25%) |
Sep 17, 2026 5w ago | Insider Buy | $155.31 $157.31 | ▲ +1.29% | ▲ +0.08% | $163.88 (+5.52%) |
Sep 16, 2026 5w ago | Insider Buy | $155.31 $157.31 | ▲ +1.29% | ▲ +0.08% | $163.88 (+5.52%) |
Aug 28, 2026 8w ago | 8-K | $129.70 $150.01 | ▲ +15.66% | ▲ +15.40% | $163.88 (+26.35%) |
Jul 29, 2026 12w ago | 8-K | $129.31 $127.35 | ▼ −1.52% | ▼ −6.54% | $163.88 (+26.73%) |
Jun 29, 2026 17w ago | 8-K | $107.08 $136.69 | ▲ +27.65% | ▲ +27.93% | $163.88 (+53.04%) |
May 28, 2026 21w ago | 8-K | $130.97 $109.31 | ▼ −16.54% | ▼ −13.85% | $163.88 (+25.13%) |
Apr 29, 2026 25w ago | 8-K | $150.58 $130.97 | ▼ −13.02% | ▼ −19.07% | $163.88 (+8.84%) |
Mar 20, 2026 31w ago | 8-K | $121.41 $121.33 | ▲ +0.07% | ▲ +9.39% | $163.88 (−34.98%) |
US Market Status
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