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 Exchange Act.
Following delisting from the NYSE, the company plans to provide liquidity by listing its Class A stock on the OTCQX platform.
The Board of Directors believes that delisting and deregistration is in the best interest of the Company and its stockholders.
Delisting from NYSE
AC intends to delist its common stock from the NYSE and deregister under the Exchange Act to redirect resources to wider business opportunities.
Informed Decision
The Board of Directors carefully reviewed the significant cost savings and burdens associated with being a registered public company before making the decision.
Enhanced Liquidity
AC aims to provide liquidity to stockholders by taking actions to have its common stock traded on the OTCQX platform.
- The decision to delist and deregister is expected to result in significant cost savings by eliminating the preparation and filing of periodic reports with the SEC.
- The move also reduces legal, audit, and other costs associated with being a reporting company, providing more financial and management resources for other opportunities.
The voluntary delisting and deregistration by Associated Capital Group, Inc. mark a strategic shift to enhance operational efficiency and focus on broader business prospects while ensuring continued liquidity for stockholders.