Associated Capital Group, Inc. has announced its decision to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
Following the delisting from the NYSE, the company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes that delisting and deregistering will redirect the company's resources to a wider range of business opportunities.
Reason for Delisting
To save costs associated with filing periodic reports with the SEC and reduce legal, audit, and management time costs.
Providing Liquidity
Plans to list on the OTCQX to enable a trading market for its common stock after delisting.
Business Focus Shift
Intention to redirect financial and management resources to pursue a broader scope of business opportunities.
- The decision to delist and deregister is seen as a strategic move by the Board to cut down on operating costs and refocus resources.
- The shift to the OTCQX platform will provide continued trading possibilities for shareholders post-deregistration.
The move by Associated Capital Group, Inc. to delist and deregister its common stock is aimed at cost-saving and redirecting resources for future business growth opportunities. The Board's decision reflects a strategic shift in the company's operations and focus.