false 0001642122 0001642122 2024-10-07 2024-10-07
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported) October 7, 2024
 
ASSOCIATED CAPITAL GROUP, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
1-37387
47-3965991
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
     
191 Mason Street, Greenwich, CT
  
06830
(Address of principal executive offices)
  
(Zip Code)
 
(203) 629-9595
Registrant's telephone number, including area code
 
Not applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Class A Common Stock, par value $0.001 per share
AC
New York Stock Exchange
 
 
 
 
 
Item 2.02
Results of Operations and Financial Condition.
 
The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.”
 
On October 7, 2024, Associated Capital Group, Inc. (NYSE: AC) (“Associated Capital”) announced a preliminary range for its book value per share for the quarter ended September 30, 2024. A copy of the related press release is being filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.
 
The information furnished under Item 2.02, including the exhibit attached hereto, is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except otherwise as expressly stated in such filing.
 
 
Item 9.01
Financial Statements and Exhibits.
 
 
(d)
Exhibits
 
 
99.1
 
 
104
Cover Page Interactive Data File (formatted as Inline XBRL)
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Associated Capital Group, Inc.
 
By: /s/ Ian J. McAdams
Ian J. McAdams         
Chief Financial Officer
 
Date: October 7, 2024
 
 

Exhibit 99.1

 

   

191 Mason Street
Greenwich, Connecticut 06830

t: 203.629.9595

Associated-Capital-Group.com 

For Immediate Release:

 

Contact:

 

Ian J. McAdams

Chief Financial Officer

(914) 921-5078

Associated-Capital-Group.com

 

AC Reports Preliminary September 30 Book Value of $41.85 to $42.05 Per Share

 

 

GREENWICH, Connecticut, October 7, 2024 – Associated Capital Group, Inc. (“AC” or the “Company”) (NYSE:AC), announced today a preliminary range for its third quarter book value of $41.85 to $42.05 per share. These estimates are ex the $2 per share special dividend declared in September 2024, which is payable on November 4, 2024 to Class A and Class B shareholder of record on October 21, 2024. This range compares to book values of $42.87 per share at June 30, 2024, $42.11 per share at December 31, 2023 and $41.43 per share at September 30, 2023.

 

AC will be issuing further details on its financial results in November.

 

About Associated Capital Group, Inc.

Associated Capital Group, Inc. (NYSE: AC), based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along several core pillars including Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor. We also created Gabelli Principal Strategies Group, LLC (“GPS”) in December 2015 to pursue strategic operating initiatives.

 

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contain “forward-looking statements”. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

 
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Document And Entity Information
Oct. 07, 2024
Document Information [Line Items]  
Entity, Registrant Name ASSOCIATED CAPITAL GROUP, INC.
Document, Type 8-K
Document, Period End Date Oct. 07, 2024
Entity, Incorporation, State or Country Code DE
Entity, File Number 1-37387
Entity, Tax Identification Number 47-3965991
Entity, Address, Address Line One 191 Mason Street
Entity, Address, City or Town Greenwich
Entity, Address, State or Province CT
Entity, Address, Postal Zip Code 06830
City Area Code 203
Local Phone Number 629-9595
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company false
Title of 12(b) Security Common Stock
Trading Symbol AC
Security Exchange Name NYSE
Amendment Flag false
Entity, Central Index Key 0001642122
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