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.
The company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister was driven by a review of factors including significant cost savings and redirection of resources.
Voluntary Delisting
AC plans to delist its common stock from NYSE and deregister under the Exchange Act to save costs.
OTCQX Listing
AC will list its Class A stock on the OTCQX platform to continue trading and provide liquidity to shareholders.
Board Decision
The Board believes delisting and deregistration will redirect financial resources to new business opportunities.
- The decision to delist and deregister will result in cost savings related to regulatory reporting and compliance obligations.
- AC aims to direct its management resources to explore diverse business ventures beyond its registration requirements.
The voluntary delisting and deregistration by Associated Capital Group marks a strategic move to enhance operational efficiency and focus on new growth avenues.