Associated Capital Group, Inc. has decided to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
AC plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform following the de-listing from the NYSE.
The decision to delist and deregister is based on the Company's evaluation of various factors including cost savings and redirecting financial and management resources.
Delisting and Deregistration
AC will delist its common stock from the NYSE and deregister under the Exchange Act, aiming to save costs and redirect resources.
OTCQX Platform Listing
AC plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders following the de-listing from the NYSE.
Board's Decision
The Board of Directors believes that delisting and deregistering is in the best interest of the Company and its stockholders, considering cost savings and business opportunities.
- The decision to delist and deregister will result in significant cost savings for AC by eliminating the need to prepare and file periodic reports with the SEC.
- Additionally, the Company aims to reduce legal, audit, and management costs associated with being a reporting company, allowing for resources redirection to other business opportunities.
Associated Capital Group, Inc.'s action of delisting and deregistering its common stock reflects a strategic move to enhance cost efficiency and refocus management resources. This decision aligns with the Company's goal to provide liquidity to its shareholders and explore a broader range of business opportunities in the future.