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 on the OTCQX platform after delisting from the NYSE.
The decision to delist and deregister is based on cost savings, reduction of legal and audit costs, and a redirection of resources to wider business opportunities.
Delisting and Deregistration
AC will delist its common stock from the NYSE and deregister under the Exchange Act to save costs and redirect resources.
Providing Liquidity to Shareholders
After delisting, AC plans to list its stock on the OTCQX platform to provide liquidity to shareholders.
Board's Decision
The Board believes that delisting and deregistering is in the best interest of the Company and its stockholders due to cost savings and resource reallocation.
- The delisting and deregistration will lead to significant cost savings for the Company by eliminating the need to file periodic reports with the SEC.
- By redirecting resources to other business opportunities, AC aims to enhance its financial and management focus for future growth.
The decision to delist and deregister reflects AC's strategic commitment to optimizing resources and creating value for its stockholders through efficient financial management and a focus on broader business prospects.