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 was made after careful consideration by the Board of Directors, weighing cost savings, legal obligations, and the redirecting of resources to new business opportunities.
Delisting and Deregistration
AC is delisting its common stock from NYSE and deregistering under SEC, citing cost savings and redirecting resources.
OTCQX Listing
After delisting, AC plans to list its common stock on the OTCQX platform to provide liquidity to shareholders.
Board Decision
The Board believes that delisting and deregistering will benefit the company and shareholders by reducing costs and focusing on new business opportunities.
- The decision to delist and deregister may impact the trading market for AC's common stock in the short term, potentially leading to changes in trading patterns and liquidity.
- AC aims to continue providing information to stockholders and work towards maintaining a trading market for its common stock despite the changes.
Associated Capital Group's move to delist and deregister reflects a strategic shift towards cost savings and focusing on new business opportunities. Despite the change, the company remains committed to providing information to its stockholders and ensuring liquidity for its common stock.