Associated Capital Group, Inc. has announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the SEC.
The company plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister is based on the Board's belief that it is in the best interest of the Company and its stockholders.
Delisting and Deregistration
AC plans to delist its common stock from NYSE and deregister under the Exchange Act, redirecting resources to other business opportunities.
OTCQX Listing
AC will apply for its common stock to be quoted on the OTCQX platform to enable a trading market for its stock.
Board's Decision
The Board determined that the cost savings and reduction in regulatory burdens outweigh the advantages of being a reporting company.
- The decision to delist and deregister will lead to significant cost savings as the company will no longer be required to file periodic reports with the SEC.
- The Board anticipates redirecting financial and management resources towards exploring a broader range of business opportunities post delisting.
The delisting and deregistration of AC's common stock marks a strategic shift towards focusing on alternative investment management and business development opportunities.