Associated Capital Group, Inc. has 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, AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister is based on the Board's belief that the burdens of remaining a registered public company outweigh the benefits.
Voluntary Delisting and Deregistration
AC is voluntarily delisting its common stock from NYSE and deregistering under Section 12(b) of the Exchange Act.
Impact on Reporting Obligations
The delisting will suspend AC's reporting obligations, including filing periodic reports with the SEC.
Redirected Resources
After delisting, AC plans to redirect its financial and management resources to a wider range of business opportunities.
- The decision to delist and deregister is aimed at achieving cost savings and reducing legal, audit, and management costs associated with being a reporting company.
- The Board believes that operating as a registered public company no longer provides significant advantages to the company and its stockholders.
Associated Capital Group's move to delist and deregister reflects a strategic decision to focus on business opportunities and cost savings, aligning with the Board's vision for the company's future direction.