Associated Capital Group, Inc. announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Securities Exchange Act of 1934.
The Company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister was based on significant cost savings and redirecting financial and management resources.
Voluntary Delisting and Deregistration
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act to save costs and redirect resources.
OTCQX Listing
After delisting, AC intends to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
Board's Decision
The Board determined that the benefits of delisting and deregistering outweighed the burdens of remaining a public company.
- The delisting and deregistration will result in significant cost savings from no longer filing periodic reports with the SEC.
- Management's time will be redirected towards a wider range of business opportunities after deregistering.
- The Board believes that the Company will be able to provide liquidity to stockholders through actions within its control.
AC's decision to delist and deregister reflects a strategic move to save costs and focus on new business opportunities. The Company aims to provide liquidity to its stockholders through the OTCQX platform.