ARYA Sciences Acquisition Corp IV: auditor change — ARYA Sciences restates Q3 2022 financials; underwriter commission waiver misclassified as gain rather than equity credit

ARYA Sciences Acquisition Corp IV

• Restating Q3 2022 financials because extinguishment of deferred underwriter commissions was incorrectly recorded as a gain instead of a credit to shareholders' deficit.
• No impact on liquidity, cash flows, trust account or operating expenses — only a classification change.
• Identified a material weakness in internal control over financial reporting and ineffective disclosure controls for the affected period.
• Restatement will be included in the 2022 10-K; audit committee and independent auditor have been informed.
• One underwriter waived its 50% share of deferred underwriting commissions in August 2022.