Associated Capital Group, Inc. has 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 the NYSE, AC plans to provide liquidity to Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes that delisting and deregistering under the Exchange Act is in the best interest of the Company and its stockholders.
Delisting and Deregistration
AC is delisting its common stock from the NYSE and deregistering under the Exchange Act to redirect financial and management resources.
Cost Savings
The decision is driven by significant cost savings from no longer preparing and filing periodic reports with the SEC.
Strategic Focus
The Board aims to focus on a wider range of business opportunities post delisting and deregistration.
- The delisting and deregistration will reduce legal, audit, and management costs associated with being a reporting company.
- AC's intention to provide liquidity and enable trading on the OTCQX may impact stockholder confidence and market perception.
Associated Capital Group's move to delist and deregister demonstrates a strategic shift towards reallocating resources and focusing on new business opportunities.