Associated Capital Group, Inc. 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.
After delisting from the NYSE, 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 to delist and deregister is in the best interest of the Company and its stockholders.
Delisting Decision
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act to redirect resources to business opportunities.
Cost Savings
The decision is driven by significant cost savings and reduction in legal, audit, and management time expenses.
OTCQX Quotation
AC has applied for its common stock to be quoted on the OTCQX platform to maintain trading visibility.
- The delisting decision is expected to save the Company substantial financial resources by eliminating periodic SEC reporting obligations.
- Redirecting management focus and financial resources can open up new avenues for business development and growth opportunities.
The move to delist and deregister reflects AC's strategic approach to optimizing resources and focusing on broader business prospects. It signals the Company's commitment to enhancing shareholder value and exploring new avenues for growth.