Associated Capital Group, Inc. (NYSE: AC) has announced its decision to voluntarily delist its class A common stock (the "common stock") from the New York Stock Exchange (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 the stock on the OTCQX platform following the delisting from the NYSE.
The last day of trading in AC's common stock on the NYSE is expected to be on or about September 4, 2025, after which the company plans to file for deregistration with the U.S. Securities and Exchange Commission (SEC). Ninety days thereafter, AC's common stock deregistration is expected to become effective.
AC has filed an application for its common stock to be quoted on the OTCQX platform, operated by OTC Markets Group Inc., and intends to continue providing information to its stockholders to enable a trading market in its common stock. However, there is no guarantee that trading will continue on the OTCQX or otherwise.
The board of directors of AC believes that the decision to delist the common stock from the NYSE and deregister and suspend its reporting obligations under the Exchange Act is in the best interest of the company and its stockholders. The board cited significant cost savings, reduced legal and audit costs, and the redirection of financial and management resources to a wider range of business opportunities as reasons for the decision.
Following the delisting and deregistration, AC intends to redirect its financial and management resources to a wider range of business opportunities. The company is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (GCIA), and has proprietary capital for its direct investment business, which invests in new and existing businesses.
AC created Gabelli Private Equity Partners, LLC (GPEP) in August 2017 with $150 million of authorized capital as a "fund-less" sponsor and formed Gabelli Principal Strategies Group, LLC (GPS) in December 2015 to pursue strategic operating initiatives. As a result of these announcements, the company's shares have moved -0.38% on the market, and are now trading at a price of $36.66. For the full picture, make sure to review Associated Capital's 8-K report.
