---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-152260"
form_type: "8-K"
ticker: "AENT"
cik: "0001823584"
company_name: "ALLIANCE ENTERTAINMENT HOLDING CORP"
filed_at: "2021-12-21T23:59:59+00:00"
generated_at: "2026-06-27T23:25:19.909370+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Adara Acquisition restates financials for 2021, citing IPO proceeds classification error

## Summary
- Audit Committee concluded audited balance sheet as of Feb 11, 2021 and Q1-Q3 2021 financials should no longer be relied upon.
- Error: IPO proceeds previously classified as equity must be reclassified as Class A common stock subject to possible redemption.
- Material weakness identified in internal controls over financial reporting; restated financials to be filed in 10-Q/A.
- Consultation with auditor Withum; restatement follows SEC Staff guidance on accounting for SPAC IPO proceeds.

## SEC filing metadata
- accession: 0001104659-21-152260
- form_type: 8-K
- ticker: AENT
- cik: 0001823584
- company_name: ALLIANCE ENTERTAINMENT HOLDING CORP
- filed_at: 2021-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823584/000110465921152260/0001104659-21-152260-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823584/000110465921152260/tm2135394d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-152260
- JSON: https://secwatch.observer/filing/0001104659-21-152260.json
- Plain text: https://secwatch.observer/filing/0001104659-21-152260.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.