Associated Capital Group, Inc. (NYSE: AC) has formally announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
The company plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform.
The decision to delist and deregister is based on cost savings, reduction of legal and audit costs, and redirecting financial resources to new business opportunities.
Delisting and Deregistration
AC intends to delist its common stock from the NYSE and deregister under the Exchange Act, benefiting from cost savings and redirecting resources.
Liquidity Provision
The company plans to list AC Class A on the OTCQX platform to provide liquidity to its stockholders.
Board's Decision
The Board believes that delisting and deregistering the common stock is in the best interest of the Company and its stockholders, considering the burdens associated with being a registered public company.
- The delisting and deregistration signify a strategic shift for AC, focusing on cost-efficiency and redirecting resources towards new business opportunities.
- Stockholders may experience changes in trading processes and market availability post-deregistration, with potential implications on market activity and liquidity.
The decision by Associated Capital Group, Inc. to delist from the NYSE and deregister under the Exchange Act marks a significant transition aimed at enhancing operational efficiency and unlocking new business prospects.