Associated Capital Reports Preliminary Second Quarter Book Value of $40.20 to $40.40 Per Share

Rhea-AI Summary

Associated Capital Group, Inc. (AC) announced preliminary second quarter book value per share between $40.20 and $40.40, down from $41.72 on March 31, 2022, and $42.48 on December 31, 2021. The assets under management increased to $1.80 billion as of June 30, 2022, from $1.61 billion a year earlier. More detailed financial results will be provided in early August.

Positive

• Increased assets under management to $1.80 billion from $1.61 billion year-over-year.

Negative

• Decline in preliminary book value per share from $41.72 at March 31, 2022, to a range of $40.20 to $40.40.

GREENWICH, Conn.--(BUSINESS WIRE)-- Associated Capital Group, Inc. (“AC” or the “Company”), announced today a range of its second quarter preliminary book value of $40.20 to $40.40 per share. This compares to $41.72 at March 31, 2022, $42.48 per share at December 31, 2021 and $42.21 at June 30, 2021.

Assets under management were $1.80 billion at June 30, 2022 as compared to $1.61 billion at June 30, 2021.

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

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/20220720005732/en/

Douglas R. Jamieson

Chief Executive Officer

(203) 629-9595

Associated-Capital-Group.com

Source: Associated Capital Group, Inc.

FAQ

What is the preliminary book value per share for AC in Q2 2022?

The preliminary book value per share for Associated Capital Group (AC) in the second quarter of 2022 is between $40.20 and $40.40.

How have AC's assets under management changed in the last year?

Associated Capital Group's assets under management increased to $1.80 billion as of June 30, 2022, up from $1.61 billion on June 30, 2021.

When will AC provide detailed financial results for Q2 2022?

Associated Capital Group will issue further details on its financial results in early August 2022.

How does AC's Q2 2022 book value compare to previous quarters?

The preliminary book value per share decreased from $41.72 on March 31, 2022, and $42.48 on December 31, 2021.