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.
The delisting from the NYSE will be followed by listing AC Class A on the OTCQX platform to provide liquidity to shareholders.
The Board of Directors believes that delisting and deregistering is in the best interest of the Company and its stockholders.
Delisting and Deregistration
AC plans to delist from the NYSE and deregister under the Exchange Act to redirect resources to other opportunities.
Cost Savings
The decision is driven by significant cost savings from no longer filing reports and managing compliance burdens.
Liquidity Provision
AC plans to provide liquidity to its shareholders following the delisting by enabling trading on the OTCQX.
- The decision to delist and deregister reflects a strategic shift towards operational efficiencies and financial resource optimization.
- AC aims to streamline its reporting obligations and reduce costs, enabling it to focus on a broader array of business prospects.
Associated Capital Group's move to delist and deregister signals a strategic redirection of resources towards new business ventures and operational efficiencies. The Company aims to enhance shareholder value through this transition.