Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the New York Stock Exchange (NYSE) and deregister under Section 12(b) of the Securities Exchange Act of 1934.
The last day of trading in AC's common stock on the NYSE will be on or about September 4, 2025, following the filing of Form 25 with the U.S. Securities and Exchange Commission (SEC).
AC plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform (the OTCQX) after the delisting from the NYSE.
Reasons for Delisting and Deregistration
The decision to delist and deregister is driven by the Company's belief that the burdens associated with being a registered public company outweigh the advantages at this time, leading to cost savings and redirecting resources to wider business opportunities.
Market Quotation on OTCQX Platform
AC has filed an application for its common stock to be quoted on the OTCQX platform, operated by OTC Markets Group Inc. However, there is no guarantee of continued market-making or trading in the common stock.
Board's Decision and Benefits
The Board of Directors believes that delisting and deregistering will benefit the Company and its stockholders by reducing costs, legal requirements, and demands on management's time, while focusing resources on business growth and providing liquidity to stockholders.
- The delisting and deregistration decision indicates a strategic shift in focus for Associated Capital Group, Inc., aiming to streamline operations and allocate resources more efficiently towards business opportunities.
- By delisting from the NYSE and deregistering under the Exchange Act, AC expects to achieve significant cost savings, reduce legal and audit expenses, and enhance management's flexibility in pursuing strategic initiatives.
Associated Capital Group's move to delist its common stock from the NYSE and deregister under the SEC reflects a strategic realignment aimed at optimizing resources and facilitating business growth opportunities. The Board's decision underscores the Company's commitment to creating long-term value for its stockholders and exploring a wider range of investment avenues.