Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and to deregister under Section 12(b) of the Securities Exchange Act of 1934.
Following the delisting from the NYSE, AC plans to list its Class A stock on the OTCQX platform.
The Board of Directors of AC believes that delisting and deregistering are in the best interest of the company and its stockholders.
Delisting and Deregistration
AC plans to delist its common stock from the NYSE and deregister under the Securities Exchange Act of 1934.
Focus on Cost Savings
The decision is based on significant cost savings including the reduction of legal, audit, and management costs.
Providing Liquidity
AC aims to provide liquidity to its stockholders following the delisting.
- The move to OTCQX may impact the trading market for AC's common stock.
- Deregistering from the SEC will relieve AC from filing obligations and reduce operational costs.
The decision to delist and deregister reflects AC's strategic focus on cost efficiency and redirecting resources to broader business opportunities.