Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under Section 12(b) of the Exchange Act.
The company plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform after delisting from the NYSE.
AC's common stock trading on the NYSE is expected to cease around September 4, 2025, with deregistration becoming effective ninety days later.
Reasons for Delisting
The decision to delist and deregister was driven by the Board's assessment that the costs of operating as a registered public company outweigh the benefits and that redirecting resources to new business opportunities is favorable.
Future Trading Market
While AC plans to have its common stock traded on the OTCQX, it cannot guarantee continuous market-making or trading in the common stock after the delisting from the NYSE.
Impact on Reporting Obligations
Upon delisting and deregistering, AC's filing obligations under the Exchange Act, including reports on Forms 8-K, 10-Q, and 10-K, will be suspended or terminated.
- The decision to delist and deregister reflects a strategic shift for AC to reallocate resources towards broader business prospects and reduce regulatory compliance costs.
- AC aims to enhance flexibility and reduce administrative burdens by ceasing its obligations as a registered public company, allowing for more efficient use of financial and management resources.
Associated Capital Group, Inc.'s move to voluntarily delist and deregister its common stock from the NYSE indicates a strategic reevaluation towards optimizing resources and exploring new business avenues, aligning with the company's long-term goals.