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 Securities Exchange Act of 1934.
The company plans to provide liquidity to its Class A stock shareholders by listing AC Class A on the OTCQX platform after delisting from the NYSE.
The decision to delist and deregister was based on the Board's belief that the burdens associated with operating as a registered public company outweigh the advantages at this time.
Delisting and Deregistration
AC plans to delist its common stock from the NYSE and deregister under the Exchange Act, redirecting resources to new business opportunities.
Cost Savings and Benefits
The decision was driven by significant cost savings, reduction in legal and audit costs, and management's time dedicated to compliance requirements.
Liquidity Provision
The Board intends to provide liquidity to stockholders post-delist by taking actions to enable trading in the common stock on the OTCQX platform.
- The delisting and deregistration will result in cost savings for Associated Capital Group, allowing the redirection of financial and management resources to broader business opportunities.
- While there is no guarantee of a continued trading market in the common stock post-delisting, the Company remains committed to providing information to facilitate trading on the OTCQX platform.
Associated Capital Group's decision to delist and deregister its common stock reflects a strategic move to optimize financial resources and focus on diversified business opportunities. The Board believes this decision is in the best interest of the Company and its stockholders.