Associated Capital Group, Inc. announced the voluntary delisting of its Class A common stock from the NYSE and deregistration under the Securities Exchange Act of 1934.
The company plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform.
The decision to delist and deregister is aimed at reducing significant costs and demands associated with being a reporting company.
Delisting and Deregistration
AC will delist its common stock from NYSE and deregister under the Exchange Act to provide liquidity and redirect resources.
Cost Savings
Significant cost savings anticipated from no longer filing SEC reports and reducing legal and audit costs.
Strategic Decision
Board believes delisting is in the best interest of the company and stockholders based on careful review of factors.
- The delisting and deregistration will enable AC to focus its financial and management resources on a wider range of business opportunities.
- The move is expected to reduce the burden on management's time under the Sarbanes-Oxley Act of 2002 and NYSE listing standards.
The decision to delist and deregister reflects AC's strategic shift to optimize resources and enhance business opportunities.