Associated Capital Group, Inc. announced the voluntary delisting of its Class A common stock from the NYSE and deregistration under the Securities Exchange Act of 1934.
AC plans to provide liquidity to Class A stock shareholders by listing on the OTCQX platform after the NYSE delisting.
The Board of Directors believes the decision is in the best interest of the Company and stockholders due to cost savings and redirected resources.
NY Stock Exchange Delisting
AC formally notified NYSE of its intention to delist its common stock voluntarily.
SEC Deregistration
AC plans to deregister under Section 12(b) of the Exchange Act to reduce reporting obligations.
Financial Resource Reallocation
The Board aims to redirect financial and management resources to a wider range of business opportunities.
- The delisting and deregistration aim to save costs related to periodic reports and legal obligations.
- Redirecting resources towards business opportunities can enhance growth prospects for Associated Capital Group.
The strategic move towards delisting and deregistration is driven by the Board's focus on cost efficiency and creating opportunities for business expansion. It reflects a proactive approach to optimizing resources and driving shareholder value in the evolving financial landscape.