Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and to deregister under Section 12(b) of the Securities Exchange Act of 1934.
The Board of Directors believes that the decision to delist and deregister is in the best interest of the Company and its stockholders, citing cost savings and redirecting resources to wider business opportunities.
AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
Voluntary Delisting and Deregistration
AC is delisting its common stock from the NYSE and deregistering under the Exchange Act to save costs and focus on wider business opportunities.
OTCQX Listing
AC plans to provide liquidity to its stockholders by listing its Class A stock on the OTCQX platform.
Board's Decision
The Board decided on delisting and deregistration after careful review, determining that the burdens of remaining a public company outweigh the benefits.
- The delisting and deregistration will result in significant cost savings by eliminating the need to file periodic reports with the SEC.
- AC intends to redirect its financial and management resources to explore a wider range of business opportunities after the delisting.
The decision by Associated Capital Group, Inc. to delist from the NYSE and deregister under the Exchange Act reflects a strategic shift towards cost efficiency and broader business focus. The Company aims to provide liquidity to its stockholders and pursue new growth opportunities.