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 delisting from NYSE, AC plans to provide liquidity to Class A stock shareholders by listing AC Class A on the OTCQX platform.
The Board believes that delisting and deregistering the common stock is in the best interest of the company and its stockholders.
Delisting and Deregistration
AC plans to voluntarily delist its common stock from the NYSE and deregister under the Exchange Act to save costs and redirect resources to business opportunities.
OTCQX Listing
AC intends to have its Class A stock traded on the OTCQX platform after delisting from the NYSE.
Board Decision
The Board's decision to delist and deregister was based on cost savings, reduction of legal and audit costs, and redirection of financial resources.
- The delisting and deregistration are expected to result in significant cost savings for AC by eliminating the need to prepare and file periodic reports with the SEC.
- Redirecting financial and management resources towards a wider range of business opportunities may enhance AC's growth and strategic initiatives.
With the decision to delist and deregister, Associated Capital Group, Inc. aims to streamline its operations, reduce regulatory burdens, and focus on strategic business ventures, providing potential benefits to the company and its shareholders.