Associated Capital Group, Inc. has officially announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Exchange Act.
After delisting from the NYSE, 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 belief that the burdens associated with being a registered public company outweigh the advantages at this time.
Voluntary Delisting
AC will voluntarily delist its Class A common stock from the NYSE and deregister under the Exchange Act.
OTCQX Listing
The company plans to list its Class A stock on the OTCQX platform to provide liquidity to shareholders.
Cost Savings and Efficiencies
The decision is driven by significant cost savings, reduction in legal and audit costs, and management resource optimization.
- The delisting and deregistration will lead to cost savings from no longer preparing and filing periodic reports with the SEC.
- The company aims to redirect financial and management resources to a wider range of business opportunities post-delisting.
- AC intends to continue providing information to its stockholders to enable a trading market on the OTCQX.
Associated Capital Group's decision to delist and deregister is a strategic move aimed at streamlining operations and focusing resources on future growth opportunities.