Associated Capital Group, Inc. announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Securities Exchange Act.
The delisting and deregistration process is expected to provide liquidity to AC's Class A stock shareholders through 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.
Voluntary Delisting
AC plans to delist its common stock from the NYSE and deregister under the Securities Exchange Act to redirect resources to wider business opportunities.
OTCQX Listing
After delisting, AC intends to list its Class A stock on the OTCQX platform to ensure continued trading.
Board Decision
The Board determined that the cost savings and reduction in regulatory burdens make delisting and deregistration advantageous for the Company.
- The decision to delist and deregister is expected to result in significant cost savings for the Company.
- AC's management resources are set to be redirected towards exploring a broader range of business opportunities post-delisting.
The delisting and deregistration move marks a strategic shift for AC towards optimizing resources and exploring new business avenues.