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 from the NYSE, 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 cost savings, legal considerations, and redirecting resources to wider business opportunities.
Delisting and Deregistration
AC decided to delist its common stock from the NYSE and deregister under the Exchange Act to save costs and focus resources on new business opportunities.
OTCQX Listing
AC plans to list its Class A stock on the OTCQX platform after the NYSE delisting to continue providing liquidity to shareholders.
Board Decision
The Board believes that the benefits of delisting and suspending reporting obligations outweigh the burdens associated with operating as a registered public company at this time.
- The delisting and deregistration will result in savings from not preparing and filing periodic reports with the SEC, reducing costs associated with being a reporting company, and freeing up management resources.
- AC aims to redirect financial and management resources to a wider range of business opportunities after delisting and focusing on the OTCQX platform for trading.
Associated Capital Group's strategic decision to delist and deregister reflects a shift towards cost-efficiency and business flexibility, enabling the company to explore new avenues for growth and development in the financial sector.