Associated Capital Group, Inc. (NYSE: AC) has announced its intention to voluntarily delist its class A 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 after 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, when the Form 25 takes effect. Following this, AC's common stock deregistration is expected to become effective ninety days thereafter. The company plans to file Form 15 on or about September 4, 2025, which will result in the suspension or termination of its filing obligations under the Exchange Act.
AC has filed an application for its common stock to be quoted on the OTCQX platform, operated by OTC Markets Group Inc. The company intends to continue providing information to its stockholders and take actions to enable a trading market in its common stock to exist. However, there is no guarantee that a broker will continue to make a market in the common stock or that trading of the common stock will continue on the OTCQX or otherwise.
The decision to delist the common stock from the NYSE and deregister and suspend reporting obligations under the Exchange Act is based on the board of directors' belief that the burdens associated with operating as a registered public company outweigh any advantages to the company and its stockholders at this time. The board has considered factors such as significant cost savings, reduction of legal and audit costs, and the demands on management's time under the Sarbanes-Oxley Act of 2002, SEC rules, and NYSE listing standards.
Associated Capital Group, Inc., based in Greenwich, Connecticut, provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (GCIA), and has proprietary capital for its direct investment business. This business invests in new and existing businesses and is developing along core pillars, including Gabelli Private Equity Partners, LLC (GPEP), and Gabelli Principal Strategies Group, LLC (GPS).
The company's decision to delist and deregister aims to redirect its financial and management resources to a wider range of business opportunities. Today the company's shares have moved -0.38% to a price of $36.66. For more information, read the company's full 8-K submission here.
