Associated Capital Group, Inc. announced its intention to voluntarily delist its common stock from the NYSE and deregister under Section 12(b) of the Securities Exchange Act of 1934.
The company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The Board of Directors believes that delisting and deregistering is in the best interest of the Company and its stockholders due to cost savings and resource redirection.
Voluntary Delisting
AC plans to delist its common stock from the NYSE voluntarily to reduce costs and management burden.
Liquidity for Stockholders
The company intends to provide liquidity to its stockholders by listing its Class A stock on the OTCQX platform.
Strategic Decision
The Board's decision is based on significant cost savings and redirecting financial and management resources.
- The delisting and deregistration decision will result in cost savings from preparing and filing periodic SEC reports.
- Management resources redirected post-deregistration toward a wider range of business opportunities.
- Liquidity provided to stockholders by enabling trading on the OTCQX platform.
The move to delist and deregister the common stock from the NYSE reflects AC's strategic focus on cost savings and redirecting resources for future growth opportunities.