Associated Capital Group, Inc. announced its intention to voluntarily delist its Class A common stock from the NYSE and to 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 delisting and deregistering is in the best interest of the Company and its stockholders, citing cost savings and redirected resources for new opportunities.
Voluntary Delisting
AC plans to voluntarily delist its common stock from NYSE and deregister under Section 12(b) of the Exchange Act.
OTCQX Listing
After delisting, AC intends to provide liquidity to its shareholders by listing its common stock on the OTCQX platform.
Board Decision
The Board decided to delist and deregister based on cost considerations and the opportunity to redirect resources towards new business opportunities.
- The decision to delist from NYSE and deregister will lead to significant cost savings for AC.
- The Board expects the move to free up financial and management resources for a broader range of business opportunities.
The voluntary delisting and SEC deregistration by Associated Capital Group, Inc. marks a strategic shift aimed at optimizing resources and focusing on new avenues of growth.