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.
The delisting is aimed at providing liquidity to AC's Class A stock shareholders by listing AC Class A on the OTCQX platform.
The Board of Directors believes that the decision to delist and deregister is in the best interest of the Company and its stockholders.
Voluntary Delisting and Deregistration
AC is voluntarily delisting its common stock from the NYSE and deregistering under the Exchange Act to save costs and redirect resources.
OTCQX Listing
AC plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
Board's Decision
The Board of Directors determined that the benefits of delisting outweigh the burdens of being a reporting company.
- The delisting and deregistration will result in cost savings from no longer filing SEC reports and reduce legal, audit, and management time costs.
- AC aims to redirect financial and management resources to explore a wider range of business opportunities once delisted and deregistered.
The decision to delist and deregister reflects AC's strategic shift towards optimizing resources and focusing on broader business prospects. The Company aims to enhance shareholder value through this transition.