Associated Capital Group, Inc. has decided 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 list its Class A stock on the OTCQX platform, providing liquidity to its shareholders.
The Board of Directors believes that delisting and deregistering from the NYSE is in the best interest of the Company and its stockholders.
Voluntary Delisting
AC announced its intention to delist its common stock from the NYSE voluntarily.
OTCQX Listing
AC plans to provide liquidity to its shareholders by listing its Class A stock on the OTCQX platform.
Reasoning Behind Decision
The Board of Directors decided to delist and deregister to save costs and redirect resources to a wider range of business opportunities.
- The decision to delist and deregister will result in cost savings from no longer preparing and filing periodic reports with the SEC.
- AC aims to reduce legal, audit, and management costs by operating as a non-reporting company on the OTCQX platform.
The delisting and deregistration decision marks a strategic move by Associated Capital Group, Inc. to focus resources efficiently and explore new business opportunities.