AC reports preliminary book value as of September 30 of $41.85 to $42.05 per share

GREENWICH, Conn., Oct. 7, 2024 (GLOBE NEWSWIRE) — Associated Capital Group, Inc. (“AC” or the “Company”) (NYSE:AC), today announced a preliminary third quarter book value range of $41.85 to $42.05 per share. These estimates reflect the special dividend of $2 per share declared in September 2024, payable on November 4, 2024 to Class A and B shareholders of record as of October 21, 2024. This range compares to book values ​​of $42.87 as of June 30. 2024, $42.11 per share on December 31, 2023 and $41.43 per share on September 30, 2023.

AC will release further details of 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 firm that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). In addition, we have committed our own capital to our direct investment business, which invests in new and existing companies. The direct investment business is developing along several key pillars, including Gabelli Private Equity Partners, LLC (“GPEP”), which was founded in August 2017 with an authorized capital of $150 million as a “fundless” sponsor. Additionally, in December 2015, we formed Gabelli Principal Strategies Group, LLC (“GPS”) 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 reflect our current expectations or predictions of future events. You can identify these statements because they do not relate exclusively to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms with similar meaning. They also appear in any discussions about future operational or financial performance. This includes, in particular, statements about future actions, the future performance of our products, expenses, the outcome of any legal proceedings and financial results. Although we believe that our expectations and beliefs are based on reasonable assumptions within the context 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 those we expect or believe. Therefore, you should exercise caution when relying on these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

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Contact:
Ian J McAdams
CFO
(914) 921-5078
Associated Capital Group.com