Associated Capital Group, Inc. announces its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Exchange Act.
The company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes that the decision is in the best interest of the Company and its stockholders, aiming to redirect financial and management resources to a wider range of business opportunities.
Delisting and Deregistration
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act to achieve cost savings and redirect resources.
OTCQX Listing
AC intends to list its common stock on the OTCQX platform to provide liquidity to its stockholders.
Board's Decision
The Board believes that the benefits of delisting and deregistering outweigh the burdens of remaining a registered public company.
- The delisting and deregistration will lead to significant cost savings through the elimination of periodic report filings with the SEC.
- AC aims to reduce legal, audit, and management costs associated with maintaining reporting obligations under the Exchange Act and NYSE listing standards.
The decision to delist and deregister reflects AC's strategic shift towards maximizing business opportunities and enhancing shareholder value. The Company aims to streamline operations and focus resources more effectively.