Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Exchange Act.
The company plans to provide liquidity to stockholders by listing AC Class A on the OTCQX platform following the delisting from the NYSE.
The decision, made by the Board of Directors, is based on the significant cost savings and reduction of legal and regulatory burdens associated with being a reporting company.
Voluntary Delisting and Deregistration Announcement
AC plans to delist its Class A common stock from the NYSE and deregister under the Exchange Act.
Reasoning Behind the Decision
The decision is based on cost savings, reduction of legal and audit costs, and redirecting resources to new business opportunities.
Ensuring Stockholder Liquidity
AC intends to provide liquidity to stockholders by having its common stock traded on the OTCQX platform.
- The Board believes the decision to delist and deregister is in the best interest of the company and its stockholders.
- The move is aimed at reducing costs associated with being a reporting company and complying with regulatory standards.
- Following the delisting, the company plans to provide liquidity to stockholders by listing on the OTCQX platform.
The decision to voluntarily delist and deregister from the NYSE showcases Associated Capital Group's strategic focus on redirecting resources towards new business opportunities.