Associated Capital Group, Inc. has 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 provide liquidity to Class A stock shareholders by listing on the OTCQX platform.
The Company aims to redirect its financial and management resources to a wider range of business opportunities post delisting and deregistration.
Voluntary Delisting and Deregistration
AC is voluntarily delisting its stock from NYSE and deregistering under the Exchange Act to redirect resources and provide liquidity to stockholders.
Board's Decision
The Board believes the delisting and deregistration decision is in the best interest of the Company and its stockholders due to cost savings and redirecting resources.
Future Trading
AC has applied for its stock to be quoted on the OTCQX platform; however, there is no guarantee of continued trading or market presence.
- The decision to delist and deregister signifies a significant shift in AC's operational focus towards business opportunities and cost reduction.
- AC's actions aim to streamline regulatory burdens and costs associated with being a public company, allowing strategic allocation of resources.
Associated Capital Group's strategic move to delist and deregister reflects a shift towards optimizing resources for future business endeavors. The decision aligns with the Company's commitment to enhancing shareholder value and operational efficiency.