Associated Capital to delist from NYSE, move to OTCQX today

GREENWICH, Conn. - Associated Capital Group, Inc. (NYSE:AC) will complete its voluntary delisting from the New York Stock Exchange today, with Thursday marking the final day of trading for its Class A common stock on the exchange. The company, currently trading at $33.36, has shown resilience with a 7.2% return over the past year despite market volatility. According to InvestingPro analysis, the stock appears to be trading below its Fair Value.

Following the delisting, Associated Capital’s shares will transition to the OTCQX platform under the anticipated symbol "ACGP," according to a company press release. The company maintains strong financial health with a current ratio of 20.7, indicating substantial liquid assets exceeding short-term obligations.

The Greenwich-based financial services company filed Form 25 with the Securities and Exchange Commission on August 25, which takes effect today. The company plans to file Form 15 today as well, which will immediately suspend or terminate its filing obligations under the Exchange Act, including reports on Forms 8-K, 10-Q, and 10-K.

Associated Capital first announced its intention to delist on August 15. The company provides alternative investment management through Gabelli & Company Investment Advisers, Inc. and operates a direct investment business across several divisions, including Gabelli Private Equity Partners and Gabelli Principal Strategies Group.

The delisting process follows procedures outlined in the Securities Exchange Act of 1934 and represents a significant change in the company’s public market presence after being listed on the NYSE.

Associated Capital did not specify reasons for the delisting in its announcement. The move from a major exchange to the over-the-counter market typically changes how shares are traded and can affect liquidity and investor access. The company has maintained a consistent dividend payment track record for 10 consecutive years, with a current yield of 0.6%. For deeper insights into AC’s financial health and future prospects, InvestingPro subscribers can access comprehensive analysis and additional ProTips.

In other recent news, Associated Capital Group announced plans to voluntarily delist its Class A common stock from the New York Stock Exchange. The company intends to file a Form 25 with the Securities and Exchange Commission around August 25, with the last trading day on the NYSE expected to be around September 4. Following the delisting, Associated Capital plans to list on the OTCQX platform to provide liquidity to shareholders. Additionally, Associated Capital held its 2024 Annual Meeting of Shareholders, where nine directors were elected to the board. The meeting also resulted in the ratification of Deloitte & Touche LLP as the independent auditor for the fiscal year ending December 31, 2025. As of the record date, the company had over 2.1 million shares of Class A common stock and nearly 19 million shares of Class B common stock outstanding. The meeting met the quorum requirement with participation from a significant number of both Class A and Class B shares. These developments reflect ongoing changes and governance activities within the company.

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