Associated Capital Group, Inc. has 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 on the OTCQX platform following the de-listing from the NYSE.
The decision to delist and deregister is based on the Board's belief that the burdens associated with being a public company outweigh the advantages at this time.
Voluntary Delisting
AC plans to delist its common stock from NYSE, citing cost savings and redirecting resources to business opportunities.
OTCQX Listing
After delisting, AC intends to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
Board Decision
The Board believes that the decision to delist and deregister is in the best interest of the company and its stockholders, focusing on cost reduction and business opportunities.
- The delisting and deregistration will lead to significant cost savings by eliminating the need to prepare and file periodic reports with the SEC.
- Redirecting financial and management resources towards wider business opportunities could enhance growth and innovation within the company.
The move to delist and deregister reflects AC's strategic shift towards optimizing resources and fostering growth. By focusing on alternative investment management and developing new businesses, AC aims to create value for its shareholders.