Associated Capital Group, Inc. announced its decision to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
Following the delisting, the company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board believes that delisting and deregistering is in the best interest of the Company and its stockholders due to significant cost savings and redirecting resources to wider business opportunities.
Voluntary Delisting
AC intends to delist its common stock from the NYSE voluntarily and deregister under the Exchange Act to provide liquidity and cost savings.
Board's Decision
The Board believes that the advantages of not being a registered public company outweigh the burdens, leading to the decision for delisting and deregistration.
Financial Focus
Upon delisting and deregistration, the Company plans to redirect its financial and management resources towards a wider range of business opportunities.
- The delisting and deregistration decisions indicate a strategic shift for Associated Capital Group towards focusing resources more efficiently on business opportunities.
- The move is expected to bring significant cost savings in terms of legal, audit, and reporting obligations, allowing the Company to reallocate resources.
The decision to delist from NYSE and deregister from SEC reflects a strategic choice by Associated Capital Group to enhance operational efficiency and redirect resources for future growth opportunities.