---
schema_version: "secwatch.filing_event.v1"
accession: "0002071876-26-000221"
form_type: "8-K"
ticker: "UNG"
cik: "0001376227"
company_name: "United States Natural Gas Fund, LP"
filed_at: "2026-09-25T21:28:41+00:00"
generated_at: "2026-10-12T13:28:05.471132+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Marygold to be taken private by Madison Dearborn in all-cash deal; parent of UNG's general partner

## Summary
- The Marygold Companies entered a definitive agreement with Chicago-based private equity firm Madison Dearborn Partners for TMC to become privately held in an all-cash transaction.
- TMC is sole shareholder of USCF Investments, Inc., the holding company and sole member of United States Commodity Funds LLC, general partner of United States Natural Gas Fund, LP (UNG).
- Closing expected in the first half of 2027 or earlier, subject to TMC stockholder approval, regulatory approvals and certain change-of-control approvals.
- On completion, TMC will be privately held and its common stock will no longer be listed on the New York Stock Exchange.
- After closing, MDP and TMC leaders intend to execute TMC's previously announced transformation strategy to refocus USCF's business; completion is not guaranteed.

## SEC filing metadata
- accession: 0002071876-26-000221
- form_type: 8-K
- ticker: UNG
- cik: 0001376227
- company_name: United States Natural Gas Fund, LP
- filed_at: 2026-09-25T21:28:41+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376227/000207187626000221/0002071876-26-000221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376227/000207187626000221/i26394_ung-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002071876-26-000221
- JSON: https://secwatch.observer/filing/0002071876-26-000221.json
- Plain text: https://secwatch.observer/filing/0002071876-26-000221.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.