Associated Capital Group, Inc. 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.
After delisting from the NYSE, AC plans to list its Class A stock on the OTCQX platform, providing liquidity to shareholders.
The Board of Directors believes that delisting and deregistering is in the best interest of the Company and its stockholders to redirect resources to wider business opportunities.
Delisting and Deregistration
AC voluntarily delists from NYSE and plans to deregister under Section 12(b) of the Exchange Act to redirect resources.
OTCQX Listing
After delisting, AC intends to list its Class A stock on the OTCQX platform to continue trading.
Board's Decision
The Board believes that the cost savings and benefits of delisting and deregistering outweigh the burdens of public reporting.
- The decision to delist and deregister will result in cost savings from no longer preparing and filing periodic reports with the SEC.
- By redirecting resources and reducing legal, audit, and management costs, AC aims to focus on a wider range of business opportunities.
The strategic move to delist and deregister reflects AC's commitment to enhancing shareholder value by redirecting resources and focusing on new business opportunities.