Associated Capital Group, Inc. announced its intention to voluntarily delist its Class A common stock from the New York Stock Exchange (NYSE) and deregister under Section 12(b) of the Securities Exchange Act of 1934.
Following the delisting from the NYSE, AC plans to list its Class A stock on the OTCQX platform.
The Company intends to provide liquidity to its Class A stock shareholders after the delisting.
Voluntary Delisting and Deregistration
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act, redirecting resources towards new business opportunities.
OTCQX Listing
AC will list its Class A stock on the OTCQX platform to continue providing stockholders with trading opportunities.
Board Decision
The Board believes that delisting and deregistering will result in significant cost savings and benefit the Company and its stockholders.
- The decision to delist and deregister is aimed at reducing operational costs and legal burdens associated with SEC reporting.
- AC aims to focus on alternative investments and developing its direct investment business post the NYSE delisting.
Overall, the move by Associated Capital Group, Inc. to voluntarily delist its common stock from the NYSE reflects a strategic shift towards optimizing resources and exploring new business avenues.