Associated Capital Reports Preliminary September 30 Book Value of $39.81 to $40.01 Per Share

Rhea-AI Summary

Associated Capital Group (AC) reported preliminary book values for September 30 at $39.81 to $40.01 per share, a decrease from $40.30 as of June 30, 2022. Comparatively, the book values were $42.48 at December 31, 2021, and $42.24 at September 30, 2021. The company’s assets under management grew to $1.75 billion as of September 30, 2022, up from $1.68 billion a year earlier. Further financial details are expected in early November.

Positive

• Assets under management increased to $1.75 billion, up from $1.68 billion year-on-year.

Negative

• Preliminary book value declined to $39.81-$40.01 from $40.30 in June 2022 and $42.48 in December 2021.

GREENWICH, Conn.--(BUSINESS WIRE)-- Associated Capital Group, Inc. (“AC” or the “Company”), announced today a range of its September 30 preliminary book value of $39.81 to $40.01 per share. This compares to $40.30 at June 30, 2022, $42.48 per share at December 31, 2021 and $42.24 at September 30, 2021.

Assets under management were $1.75 billion at September 30, 2022 as compared to $1.68 billion at September 30, 2021.

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

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/20221014005508/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 of Associated Capital Group (AC) as of September 30, 2022?

The preliminary book value of AC is reported to be between $39.81 and $40.01 per share.

How much did Associated Capital Group's assets under management increase by year-on-year?

Assets under management increased from $1.68 billion at September 30, 2021, to $1.75 billion at September 30, 2022.

When will Associated Capital Group (AC) release its financial results?

Associated Capital Group is expected to release further financial details in early November.

How does the preliminary book value as of September 30, 2022, compare to previous periods for AC?

The book value decreased from $40.30 as of June 30, 2022, and $42.48 as of December 31, 2021.