Associated Capital Group, Inc. announced its decision to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
After delisting from the NYSE, AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes this decision will lead to significant cost savings and redirect financial resources to other business opportunities.
Delisting and Deregistration
AC will delist its common stock from NYSE and deregister under the Exchange Act to save costs and focus resources on business opportunities.
OTCQX Platform Listing
AC intends to have its common stock quoted on the OTCQX platform after delisting from the NYSE.
Board Decision
The Board believes the benefits of delisting outweigh the burdens of remaining a public company at this time.
- The delisting and deregistration will result in cost savings from not filing periodic reports with the SEC and reduce legal and audit costs.
- AC plans to redirect financial and management resources to a wider range of business opportunities post delisting.
- The Board's decision is aimed at providing liquidity to stockholders and easing compliance burdens under the Exchange Act and NYSE listing standards.
The decision by Associated Capital Group, Inc. to delist and deregister its common stock highlights a strategic shift towards cost efficiency and business focus. The move is expected to benefit the company and its stockholders in the long run.