Avista Public Acquisition restates Aug 2021 balance sheet; reclassifies 23M shares to temporary equity

OmniAb, Inc.

Restatement reclassifies all 23M Class A ordinary shares from permanent to temporary equity; no cash impact.
Material weakness in internal control over financial reporting identified; disclosure controls ineffective.
IPO raised $230M gross from 23M units at $10; private placement of 8.23M warrants added $12.35M.
Trust account holds $235.75M ($10.25 per share) as previously reported; no change from restatement.
Restatement corrects prior classification error; company concluded error would influence reasonable investor.

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