Associated Capital Group, Inc. (NYSE: AC) 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, AC plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
The decision to delist and deregister comes as the Board believes the advantages outweigh the burdens of remaining a registered public company.
Voluntary Actions
AC is voluntarily delisting from the NYSE and deregistering under SEC regulations to redirect resources and provide liquidity to shareholders.
Cost Savings
The decision is driven by significant cost savings, including the elimination of expenses related to SEC filings and compliance with regulations.
Business Opportunities
The Board foresees redirecting financial and management resources towards wider business opportunities post-delistment.
- The delisting from NYSE and SEC deregistration will lead to cost savings by eliminating the need for SEC filings and compliance expenses.
- AC plans to shift its focus towards business growth and exploration of new opportunities following the delisting process.
The move to delist and deregister reflects Associated Capital Group's strategic shift towards maximizing resources and exploring new business avenues, ultimately aiming to benefit shareholders and strengthen the company's position in the market.