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 last day of trading in AC's common stock on the NYSE is expected to be on or about September 4, 2025, when the Form 25 takes effect.
AC plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform after the delisting from the NYSE.
Reasons for Delisting
The decision to delist and deregister was based on significant cost savings, reduction of legal and audit costs, and the redirection of financial resources for other business opportunities.
Board's Decision
The Board believes that delisting and deregistering are in the best interest of the Company and its stockholders due to the burdens associated with being a registered public company.
Future Market Trading
While AC filed an application to quote its common stock on the OTCQX platform, there is no guarantee of continued trading or market liquidity.
- The delisting and deregistration signify a strategic shift in focus towards alternative investment management and direct investment business opportunities for Associated Capital Group, Inc.
- The Company aims to streamline operations and allocate resources more efficiently towards its core business pillars in the global financial services sector.
Associated Capital Group's decision to delist and deregister reflects a strategic move towards optimizing operational costs and focusing on exploring diverse business opportunities. The Board's decision paves the way for enhanced resource allocation and strategic realignment.