---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-017653"
form_type: "8-K"
ticker: null
cik: "0000727207"
company_name: "Accelerate Diagnostics, Inc"
filed_at: "2023-02-09T23:59:59+00:00"
generated_at: "2026-06-19T21:08:23.312599+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Accelerate Diagnostics restates 2022 quarterly reports; notes misclassification, going concern doubt

## Summary
- Restating Q1-Q3 2022 interim financials due to misclassification of $56.6M of 2.50% Senior Convertible Notes as non-current liability.
- Previously issued $171.5M notes; exchanged $114.9M for stock, promissory note, and warrants between Sep 2021 and Aug 2022.
- Amended 10-Qs will include disclosure expressing substantial doubt about ability to continue as a going concern.
- Management expects to report material weakness in internal control over financial reporting for affected periods.
- Restatement does not materially impact statements of operations, cash flows, or stockholders' deficit.

## SEC filing metadata
- accession: 0001104659-23-017653
- form_type: 8-K
- cik: 0000727207
- company_name: Accelerate Diagnostics, Inc
- filed_at: 2023-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/727207/000110465923017653/0001104659-23-017653-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/727207/000110465923017653/tm236096d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-017653
- JSON: https://secwatch.observer/filing/0001104659-23-017653.json
- Plain text: https://secwatch.observer/filing/0001104659-23-017653.txt

## Key facts
- Auditor Changes
  Accelerate Diagnostics, Inc reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Ernst & Young LLP
  source text: hould no longer be relied upon due to the error in the balance sheet classification of the Company’s 2.50% Senior Convertible Notes due 2023 (the “Notes”) described below. In March and April 2018, the Company issued $171.5 million aggregate principal amount of Notes, which have a maturity date of March 15, 2023, unless earlier converted or repurchased. Between September 2021 and August 2022, the Company entered into certain exchange transactions pursuant to which the Company exchanged $114.9 million aggregate principal amount of Notes for one or a combination of: shares of the Company’s common stock, a secured promissory note and/or warrants to purchase the Company’s common stock. As of the date of this Current Report on Form 8-K, $56.6 million aggregate principal amount of Notes remain outstanding. The balance sheets contained in each of the 2022 Interim Financial Statements classified
  evidence_url: https://www.sec.gov/Archives/edgar/data/727207/000110465923017653/0001104659-23-017653-index.htm

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