Associated Capital Group, Inc. announced the voluntary delisting of its Class A common stock from the NYSE and deregistration under Section 12(b) of the Securities Exchange Act of 1934.
They plan to provide liquidity to Class A stock shareholders by listing on the OTCQX platform after delisting.
The decision was made to save costs and redirect resources to wider business opportunities.
Delisting and Deregistration
AC will delist its common stock from NYSE and deregister under the Exchange Act to save costs and redirect resources.
Liquidity Provision
AC plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders after delisting.
Board's Decision
The Board believes that the benefits of delisting and deregistering outweigh the burdens of operating as a registered public company.
- The delisting and deregistration will lead to significant cost savings by eliminating the preparation and filing of periodic SEC reports.
- Management resources will be redirected towards a wider range of business opportunities after the delisting and deregistration.
The decision to delist and deregister reflects AC's strategic shift towards cost-saving measures and focusing on broader business prospects. Shareholders will benefit from increased liquidity options on the OTCQX platform.