Associated Capital Group, Inc. announced its intention 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 delisting, AC plans to list its Class A stock on the OTCQX platform, providing liquidity to shareholders.
The Board believes delisting and deregistration will redirect financial and management resources to broader business opportunities.
Delisting and Deregistration
AC will delist its common stock from the NYSE and deregister under the Exchange Act to save costs and redirect resources.
OTCQX Listing
AC plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
Strategic Decision
The Board believes the decision is in the best interest of the company and its stockholders to focus on wider business opportunities.
- The decision to delist and deregister shows a strategic shift towards cost-saving and resource reallocation.
- AC aims to reduce legal, audit, and management costs associated with reporting as a public company.
- The move may lead to potential trading challenges on the OTCQX platform despite efforts to provide liquidity to shareholders.
The voluntary delisting and deregistration decision by Associated Capital Group, Inc. marks a strategic move to enhance operational efficiency and focus on broader business prospects.