Associated Capital Group, Inc. announced its intention 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 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 was based on significant cost savings and the redirection of financial and management resources to wider business opportunities.
Voluntary Delisting
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act to focus on providing liquidity and cost savings.
OTCQX Platform Listing
AC intends to list its Class A stock on the OTCQX platform to ensure continued trading for stockholders.
Strategic Board Decision
The Board's decision to delist and deregister was driven by the belief that the benefits of redirecting resources outweigh the burdens of maintaining reporting obligations.
- The delisting and deregistration will lead to significant cost savings for AC, including the elimination of periodic reporting obligations and associated legal and audit costs.
- The Company expects to focus its resources on a broader range of business opportunities once delisted and deregistered.
The decision by Associated Capital Group, Inc. to delist its common stock from the NYSE and deregister under the Exchange Act reflects a strategic shift towards enhancing shareholder value and focusing on new business horizons.