Associated Capital Group, Inc. has announced its decision 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 followed by providing liquidity to AC's Class A stock shareholders by listing AC Class A on the OTCQX platform.
The Company aims to redirect its financial and management resources to a wider range of business opportunities post delisting and deregistration.
Delisting and Deregistration
AC intends to delist its common stock from NYSE and deregister under the Exchange Act, aiming for cost savings and redirecting resources.
OTCQX Listing
AC plans to have its common stock quoted on the OTCQX platform to provide liquidity to shareholders.
Board Decision
The Board of Directors believes that delisting and deregistering is in the best interest of the Company and its stockholders considering cost savings and management resources.
- The decision to delist and deregister will result in significant cost savings by no longer preparing and filing periodic reports with the SEC.
- It will also reduce legal, audit, and other costs associated with being a reporting company, redirecting financial and management resources to new business opportunities.
AC's strategic move to delist and deregister reflects its commitment to optimizing resources for future growth and opportunities, benefiting both the Company and its stockholders.