Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Securities Exchange Act of 1934.
Following delisting from the NYSE, AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister is based on significant cost savings and redirecting resources to a wider range of business opportunities.
Delisting and Deregistration
AC plans to delist its common stock from NYSE and deregister under Section 12(b) of the Exchange Act, redirecting resources to new business opportunities.
Cost Savings and Benefits
The Board believes the decision will lead to substantial cost savings and reduce legal, audit, and management time costs.
Alternative Investments
AC, a diversified financial services company, provides alternative investment management through GCIA and invests in new businesses.
- The decision to delist and deregister demonstrates a strategic shift in priorities towards enhancing liquidity and redirecting financial resources.
- AC's intention to continue trading on the OTCQX platform aims to maintain a market for its common stock while reducing compliance and reporting obligations.
The Board of Directors believes that delisting and deregistering the common stock is in the best interest of the Company and its stockholders, enabling a focus on new business opportunities and cost savings.