SeaStar Medical Holding Corp (ICU): auditor change — SeaStar Medical to restate 2022 annual and 2023 interim financials over warrant and forward purchase accounting

SeaStar Medical Holding Corp

Restatement covers FY 2022 and quarters ended Mar 31, Jun 30, Sep 30, 2023.
Private placement and PIPE warrants must be reclassified from equity to liability and remeasured at fair value each period.
Prepaid forward purchase agreements should be accounted for as hybrid instruments with an embedded derivative liability.
Company expects to disclose a material weakness in internal controls over financial reporting in its Form 10-K.
Restatement impacts non-cash items only; audit committee discussed with both prior and current auditors.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

SeaStar Medical Holding Corp reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On March 21, 2024, after discussion with the Company’s management, the Audit Committee determined that a restatement of the Company’s audited financial statements for the fiscal year ended December 31, 2022 and unaudited interim financial statements for the fiscal quarters ended March 31, 2023, June 30, 2023 and September 30, 2023 would be appropriate

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Source: SEC EDGAR

accession 0000950170-24-036837

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