Associated Capital Group, Inc. has 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 delisting, AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes the delisting and deregistration are in the best interest of the Company and its stockholders.
Voluntary Delisting and Deregistration
AC is delisting its common stock from the NYSE and deregistering under the Exchange Act to provide liquidity to shareholders.
Cost Savings and Resource Reallocation
The decision is driven by significant cost savings, reduction in legal and audit costs, and redirection of financial and management resources.
Future Business Opportunities
AC aims to redirect resources to a wider range of business opportunities post-delist and deregistration.
- The delisting and deregistration will result in cost savings by eliminating the preparation and filing of periodic reports with the SEC.
- AC plans to focus on alternative investment management through GCIA and direct investment business post-delist and deregistration.
The decision to delist and deregister reflects AC's strategic move to prioritize cost-efficiency, resource reallocation, and business opportunity exploration.