Associated Capital Reports Preliminary First Quarter Book Value of $41.62 to $41.82 Per Share

Rhea-AI Summary

Associated Capital Group, Inc. (AC) reported preliminary book value for Q1 at $41.62 to $41.82 per share, down from $42.48 as of December 31, 2021. Compared to $41.22 a year prior, it reflects a slight decrease. Assets under management rose to $1.84 billion from $1.50 billion a year earlier, marking significant growth. The company plans to provide further financial results in early May.

Positive

• Assets under management increased to $1.84 billion from $1.50 billion year-over-year.

Negative

• Preliminary book value decreased from $42.48 per share at December 31, 2021, to between $41.62 and $41.82.

GREENWICH, Conn.--(BUSINESS WIRE)-- Associated Capital Group, Inc. (“AC” or the “Company”), announced today a range of its first quarter preliminary book value of $41.62 to $41.82 per share. This compares to $42.48 per share at December 31, 2021 and $41.22 at March 31, 2021.

Assets under management were $1.84 billion at March 31, 2022 as compared to $1.50 billion at March 31, 2021.

Associated Capital will be issuing further details on its financial results in early May.

About Associated Capital Group, Inc.

Associated Capital, based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). 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 three core pillars: Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor; the SPAC business (Gabelli special purpose acquisition vehicles), launched in April 2018; and Gabelli Principal Strategies Group, LLC (“GPS”), created 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220419005955/en/

Timothy H. Schott

Chief Financial Officer

(203) 629-9595

Associated-Capital-Group.com

Source: Associated Capital Group, Inc.

FAQ

What is Associated Capital Group's preliminary book value for Q1 2022?

The preliminary book value for Q1 2022 is between $41.62 and $41.82 per share.

How much did Associated Capital's assets under management grow by?

Assets under management grew from $1.50 billion to $1.84 billion year-over-year.

When will Associated Capital Group release its detailed financial results?

Associated Capital will release further financial details in early May.

What was the book value per share for Associated Capital as of December 31, 2021?

The book value per share as of December 31, 2021, was $42.48.

How does the Q1 2022 book value compare to Q1 2021 for Associated Capital?

The book value per share for Q1 2021 was $41.22, compared to $41.62 to $41.82 for Q1 2022.