dMY Technology Group, Inc. VI: auditor change — dMY Technology Group restates 2022 10-K due to accounting error on underwriter commission waiver

dMY Technology Group, Inc. VI

Restating 2022 10-K after concluding deferred underwriter commission waiver was improperly accounted for as gain rather than credit to equity.
Change in accounting does not affect cash, trust, operating expenses, or cash flows; only classification.
Management and audit committee conclude previously issued annual financial statements should no longer be relied upon.
Material weakness in internal control over financial reporting identified; disclosure controls and procedures found ineffective.

item 4.02

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

dMY Technology Group, Inc. VI reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

Directors (the “Audit Committee”) concluded that the Company’s previously issued audited financial statements for the year ended December 31, 2022 on Form 10-K filed with the SEC on March 3, 2023 (the “Original Filing”) should no longer be relied upon and that it is appropriate to restate the Annual Report. As a result, the Company today is announcing that it will restate the dMY VI 10-K on Form 10-K/A to reflect the change in accounting treatment. The Audit Committee and dMY VI management have discussed the matters disclosed pursuant to this Item 4.02(a) with the Company’s independent accountant. The Company’s management has concluded that a material weakness exists in the Company’s internal control over financial reporting and that the Company’s disclosure controls and procedures were not effective. The Company is filing this Amendment No. 1 to Form 10-K (“Amendment No. 1”) to include

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Source: SEC EDGAR

accession 0001193125-23-078834

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