[8-K] Associated Capital Group, Inc. Reports Material Event
Associated Capital Group, Inc. notified the New York Stock Exchange of its voluntary plan to delist its Class A common stock and to deregister under Section 12(b) of the Exchange Act. The company intends to file Form 25 around August 25, 2025, with the last NYSE trading day on or about September 4, 2025, and expects deregistration to become effective about 90 days thereafter. When it files Form 15, its Exchange Act reporting obligations, including Forms 8-K, 10-Q and 10-K, will be suspended or terminated. AC has applied to have its Class A shares quoted on the OTCQX to provide liquidity but warns there is no guarantee a market maker or trading on OTCQX will continue. The Board cited expected cost savings and reduced compliance burdens as reasons for the move.
Associated Capital Group, Inc. ha notificato al New York Stock Exchange il piano volontario di delisting delle proprie azioni ordinarie di classe A e di cancellazione della registrazione ai sensi della Sezione 12(b) dell'Exchange Act. La societ脿 intende presentare il Modulo 25 intorno al 25 agosto 2025, con l'ultimo giorno di negoziazione sul NYSE previsto intorno al 4 settembre 2025, e prevede che la cancellazione della registrazione diventer脿 efficace circa 90 giorni dopo. Al momento della presentazione del Modulo 15, gli obblighi di rendicontazione ai sensi dell'Exchange Act, inclusi i Moduli 8-K, 10-Q e 10-K, saranno sospesi o terminati. AC ha richiesto che le sue azioni di classe A vengano quotate su OTCQX per garantire liquidit脿, ma avverte che non vi 猫 alcuna garanzia che un market maker o la negoziazione su OTCQX continueranno. Il Consiglio ha citato i risparmi attesi sui costi e la riduzione degli oneri di conformit脿 come motivi della decisione.
Associated Capital Group, Inc. notific贸 al New York Stock Exchange su su plan voluntario para retirar la cotizaci贸n de sus acciones ordinarias Clase A y dejar de estar registrada conforme a la Secci贸n 12(b) del Exchange Act. La compa帽铆a tiene la intenci贸n de presentar el Formulario 25 alrededor del 25 de agosto de 2025, con el 煤ltimo d铆a de negociaci贸n en la NYSE aproximadamente el 4 de septiembre de 2025, y espera que la desregistro entre en vigor aproximadamente 90 d铆as despu茅s. Cuando presente el Formulario 15, sus obligaciones de informaci贸n bajo el Exchange Act, incluidos los Formularios 8-K, 10-Q y 10-K, se suspender谩n o terminar谩n. AC ha solicitado que sus acciones Clase A cotizen en la OTCQX para proporcionar liquidez, pero advierte que no hay garant铆a de que un creador de mercado o la negociaci贸n en OTCQX contin煤en. La Junta cit贸 los ahorros de costos esperados y la reducci贸n de las cargas de cumplimiento como razones para la medida.
Associated Capital Group, Inc.電� 雺挫殨歃濌秾瓯半灅靻�(NYSE)鞐� 韥措灅鞀� A 氤错喌欤检潣 鞛愳 靸侅灔韽愳 氚� Exchange Act 靹轨厴 12(b)鞐� 霐半ジ 霌彪毵愳唽 瓿勴殟鞚� 韱奠頄堨姷雼堧嫟. 須岇偓電� 2025雲� 8鞗� 25鞚缄步鞐� Form 25毳� 鞝滌稖頃� 鞓堨爼鞚措┌, NYSE鞐愳劀鞚� 斓滌 瓯半灅鞚检潃 2025雲� 9鞗� 4鞚缄步鞙茧 鞓堨儊頃橁碃 鞛堦碃 霌彪毵愳唽電� 攴鸽攵�韯� 鞎� 90鞚� 頉勳棎 須牓鞚� 氚滌儩頃� 瓴冹溂搿� 氤搓碃 鞛堨姷雼堧嫟. Form 15毳� 鞝滌稖頃橂┐ Form 8-K, 10-Q, 10-K毳� 韽暔頃� Exchange Act鞐� 霐半ジ 氤搓碃 鞚橂臧� 欷戨嫧霅橁卑雮� 膦呺霅╇媹雼�. AC電� 鞙犽彊靹� 鞝滉车鞚� 鞙勴暣 韥措灅鞀� A 欤检嫕鞚� OTCQX鞐� 順戈皜頃� 雼澕瓿� 鞁犾箔頄堨溂雮�, 鞁滌灔臁办劚鞛� 霕愲姅 OTCQX鞐愳劀鞚� 瓯半灅臧� 瓿勳啀霅� 瓴冹澊霛茧姅 氤挫灔鞚� 鞐嗠嫟瓿� 瓴疥碃頄堨姷雼堧嫟. 鞚挫偓須岆姅 牍勳毄 鞝堦皭 旮半寑鞕� 欷�靾� 攵�雼� 瓴疥皭鞚� 鞚� 瓴办爼鞚� 鞚挫湢搿� 霌れ棃鞀惦媹雼�.
Associated Capital Group, Inc. a inform茅 la New York Stock Exchange de son projet volontaire de retirer de la cote ses actions ordinaires de cat茅gorie A et de radier son enregistrement en vertu de la Section 12(b) de l'Exchange Act. La soci茅t茅 a l'intention de d茅poser le formulaire 25 vers le 25 ao没t 2025, le dernier jour de cotation 脿 la NYSE 茅tant pr茅vu aux alentours du 4 septembre 2025, et s'attend 脿 ce que la radiation devienne effective environ 90 jours apr猫s. Lorsqu'elle d茅posera le formulaire 15, ses obligations de reporting en vertu de l'Exchange Act, y compris les formulaires 8-K, 10-Q et 10-K, seront suspendues ou termin茅es. AC a demand茅 que ses actions de cat茅gorie A soient cot茅es sur l'OTCQX afin d'assurer une liquidit茅, mais avertit qu'il n'y a aucune garantie qu'un teneur de march茅 ou la n茅gociation sur l'OTCQX se poursuivront. Le conseil d'administration a invoqu茅 les 茅conomies de co没ts attendues et la r茅duction des charges de conformit茅 comme motifs de cette d茅cision.
Associated Capital Group, Inc. hat die New York Stock Exchange 眉ber seinen freiwilligen Plan informiert, die Notierung der Class-A-Stammaktien zu beenden und die Registrierung gem盲脽 Section 12(b) des Exchange Act aufzuheben. Das Unternehmen beabsichtigt, das Formular 25 etwa am 25. August 2025 einzureichen; der letzte Handelstag an der NYSE soll etwa am 4. September 2025 sein, und die Deregistrierung wird voraussichtlich rund 90 Tage danach wirksam. Mit Einreichung des Formulars 15 werden die Berichterstattungspflichten nach dem Exchange Act, einschlie脽lich der Formulare 8-K, 10-Q und 10-K, ausgesetzt oder beendet. AC hat beantragt, seine Class-A-Aktien im OTCQX quotiert zu bekommen, um Liquidit盲t bereitzustellen, warnt jedoch, dass es keine Garantie daf眉r gebe, dass ein Market Maker oder der Handel auf OTCQX fortbestehen. Der Vorstand nannte erwartete Kosteneinsparungen und geringere Compliance-Aufw盲nde als Gr眉nde f眉r den Schritt.
- Significant expected cost savings from no longer preparing and filing periodic SEC reports and related compliance activities
- Reduced legal, audit and Sarbanes-Oxley burdens freeing management time and financial resources
- Planned OTCQX quotation to provide continued trading access for Class A shareholders
- Voluntary delisting from NYSE will likely reduce liquidity and visibility for Class A shares
- Suspension/termination of Exchange Act reporting (Forms 8-K, 10-Q, 10-K) will reduce public disclosure and transparency
- No guarantee of market-making or OTCQX trading, creating execution and liquidity uncertainty for shareholders
Insights
TL;DR: Delisting reduces public reporting costs but materially lowers liquidity and transparency for investors.
The decision to voluntarily delist and deregister is a material corporate action that will change the companys investor access and information flow. Eliminating Exchange Act reporting will reduce recurring legal, audit and compliance expenses and management time, which the Board views as net positive for resource allocation. However, removal from the NYSE and suspension of filings increases liquidity risk and information asymmetry. The OTCQX application mitigates this but does not guarantee market-making or comparable trading volumes. This action is likely to impact valuation multiples and investor base.
TL;DR: Board weighed costs and compliance burdens and chose deregulatory path; governance oversight and disclosure will meaningfully change.
The Boards rationale centers on cost-benefit analysis of remaining a registered public company versus operating with reduced disclosure obligations. While lawful and within shareholder rights, the change alters corporate governance dynamics: fewer mandatory public disclosures and reduced external oversight from regulators and public investors. Shareholders relying on periodic SEC filings will lose routine access to audited periodic reports and current event disclosures after Form 15 is filed. The move should be monitored for how the company maintains voluntary disclosure practices post-deregistration.
Associated Capital Group, Inc. ha notificato al New York Stock Exchange il piano volontario di delisting delle proprie azioni ordinarie di classe A e di cancellazione della registrazione ai sensi della Sezione 12(b) dell'Exchange Act. La societ脿 intende presentare il Modulo 25 intorno al 25 agosto 2025, con l'ultimo giorno di negoziazione sul NYSE previsto intorno al 4 settembre 2025, e prevede che la cancellazione della registrazione diventer脿 efficace circa 90 giorni dopo. Al momento della presentazione del Modulo 15, gli obblighi di rendicontazione ai sensi dell'Exchange Act, inclusi i Moduli 8-K, 10-Q e 10-K, saranno sospesi o terminati. AC ha richiesto che le sue azioni di classe A vengano quotate su OTCQX per garantire liquidit脿, ma avverte che non vi 猫 alcuna garanzia che un market maker o la negoziazione su OTCQX continueranno. Il Consiglio ha citato i risparmi attesi sui costi e la riduzione degli oneri di conformit脿 come motivi della decisione.
Associated Capital Group, Inc. notific贸 al New York Stock Exchange su su plan voluntario para retirar la cotizaci贸n de sus acciones ordinarias Clase A y dejar de estar registrada conforme a la Secci贸n 12(b) del Exchange Act. La compa帽铆a tiene la intenci贸n de presentar el Formulario 25 alrededor del 25 de agosto de 2025, con el 煤ltimo d铆a de negociaci贸n en la NYSE aproximadamente el 4 de septiembre de 2025, y espera que la desregistro entre en vigor aproximadamente 90 d铆as despu茅s. Cuando presente el Formulario 15, sus obligaciones de informaci贸n bajo el Exchange Act, incluidos los Formularios 8-K, 10-Q y 10-K, se suspender谩n o terminar谩n. AC ha solicitado que sus acciones Clase A cotizen en la OTCQX para proporcionar liquidez, pero advierte que no hay garant铆a de que un creador de mercado o la negociaci贸n en OTCQX contin煤en. La Junta cit贸 los ahorros de costos esperados y la reducci贸n de las cargas de cumplimiento como razones para la medida.
Associated Capital Group, Inc.電� 雺挫殨歃濌秾瓯半灅靻�(NYSE)鞐� 韥措灅鞀� A 氤错喌欤检潣 鞛愳 靸侅灔韽愳 氚� Exchange Act 靹轨厴 12(b)鞐� 霐半ジ 霌彪毵愳唽 瓿勴殟鞚� 韱奠頄堨姷雼堧嫟. 須岇偓電� 2025雲� 8鞗� 25鞚缄步鞐� Form 25毳� 鞝滌稖頃� 鞓堨爼鞚措┌, NYSE鞐愳劀鞚� 斓滌 瓯半灅鞚检潃 2025雲� 9鞗� 4鞚缄步鞙茧 鞓堨儊頃橁碃 鞛堦碃 霌彪毵愳唽電� 攴鸽攵�韯� 鞎� 90鞚� 頉勳棎 須牓鞚� 氚滌儩頃� 瓴冹溂搿� 氤搓碃 鞛堨姷雼堧嫟. Form 15毳� 鞝滌稖頃橂┐ Form 8-K, 10-Q, 10-K毳� 韽暔頃� Exchange Act鞐� 霐半ジ 氤搓碃 鞚橂臧� 欷戨嫧霅橁卑雮� 膦呺霅╇媹雼�. AC電� 鞙犽彊靹� 鞝滉车鞚� 鞙勴暣 韥措灅鞀� A 欤检嫕鞚� OTCQX鞐� 順戈皜頃� 雼澕瓿� 鞁犾箔頄堨溂雮�, 鞁滌灔臁办劚鞛� 霕愲姅 OTCQX鞐愳劀鞚� 瓯半灅臧� 瓿勳啀霅� 瓴冹澊霛茧姅 氤挫灔鞚� 鞐嗠嫟瓿� 瓴疥碃頄堨姷雼堧嫟. 鞚挫偓須岆姅 牍勳毄 鞝堦皭 旮半寑鞕� 欷�靾� 攵�雼� 瓴疥皭鞚� 鞚� 瓴办爼鞚� 鞚挫湢搿� 霌れ棃鞀惦媹雼�.
Associated Capital Group, Inc. a inform茅 la New York Stock Exchange de son projet volontaire de retirer de la cote ses actions ordinaires de cat茅gorie A et de radier son enregistrement en vertu de la Section 12(b) de l'Exchange Act. La soci茅t茅 a l'intention de d茅poser le formulaire 25 vers le 25 ao没t 2025, le dernier jour de cotation 脿 la NYSE 茅tant pr茅vu aux alentours du 4 septembre 2025, et s'attend 脿 ce que la radiation devienne effective environ 90 jours apr猫s. Lorsqu'elle d茅posera le formulaire 15, ses obligations de reporting en vertu de l'Exchange Act, y compris les formulaires 8-K, 10-Q et 10-K, seront suspendues ou termin茅es. AC a demand茅 que ses actions de cat茅gorie A soient cot茅es sur l'OTCQX afin d'assurer une liquidit茅, mais avertit qu'il n'y a aucune garantie qu'un teneur de march茅 ou la n茅gociation sur l'OTCQX se poursuivront. Le conseil d'administration a invoqu茅 les 茅conomies de co没ts attendues et la r茅duction des charges de conformit茅 comme motifs de cette d茅cision.
Associated Capital Group, Inc. hat die New York Stock Exchange 眉ber seinen freiwilligen Plan informiert, die Notierung der Class-A-Stammaktien zu beenden und die Registrierung gem盲脽 Section 12(b) des Exchange Act aufzuheben. Das Unternehmen beabsichtigt, das Formular 25 etwa am 25. August 2025 einzureichen; der letzte Handelstag an der NYSE soll etwa am 4. September 2025 sein, und die Deregistrierung wird voraussichtlich rund 90 Tage danach wirksam. Mit Einreichung des Formulars 15 werden die Berichterstattungspflichten nach dem Exchange Act, einschlie脽lich der Formulare 8-K, 10-Q und 10-K, ausgesetzt oder beendet. AC hat beantragt, seine Class-A-Aktien im OTCQX quotiert zu bekommen, um Liquidit盲t bereitzustellen, warnt jedoch, dass es keine Garantie daf眉r gebe, dass ein Market Maker oder der Handel auf OTCQX fortbestehen. Der Vorstand nannte erwartete Kosteneinsparungen und geringere Compliance-Aufw盲nde als Gr眉nde f眉r den Schritt.
FAQ
Why is Associated Capital Group (AC) delisting from the NYSE?
When will AC stop trading on the NYSE and stop SEC reporting?
Will AC shares still be tradable after NYSE delisting?
What filings will AC stop making after deregistration?
How did the Board evaluate this decision?
