---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-024903"
form_type: "8-K"
ticker: null
cik: "0001825473"
company_name: "Prospector Capital Corp."
filed_at: "2023-03-31T23:59:59+00:00"
generated_at: "2026-06-17T08:18:54.151297+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Prospector Capital restates Q2 and Q3 2022 financials for deferred underwriting commission waiver

## Summary
- Deferred underwriting commissions of $11.375M from IPO were waived by Goldman Sachs on June 30, 2022.
- Company failed to record extinguishment of contingent liability as credit to shareholders' deficit in Q2 and Q3 2022.
- Previously issued Q2 and Q3 2022 financials should no longer be relied upon; restatement in 2022 10-K.
- Management discussed the matter with independent auditor WithumSmith+Brown, PC.

## SEC filing metadata
- accession: 0001213900-23-024903
- form_type: 8-K
- cik: 0001825473
- company_name: Prospector Capital Corp.
- filed_at: 2023-03-31T23:59:59+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/1825473/000121390023024903/0001213900-23-024903-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825473/000121390023024903/ea176139-8k_prospector.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-024903
- JSON: https://secwatch.observer/filing/0001213900-23-024903.json
- Plain text: https://secwatch.observer/filing/0001213900-23-024903.txt

## Key facts
- Auditor Changes
  Prospector Capital Corp. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: WithumSmith+Brown, PC
  source text: o longer be relied upon and that it is appropriate to restate the financial statements included in the Form 10-Qs to account for the extinguishment of the contingent liability as a credit to shareholders’ deficit as of June 30, 2022. Accordingly, the Company will reflect the necessary adjustments in its audited financial statements and related notes for the year ended December 31, 2022 to be included in its Annual Report on Form 10-K to be filed with the SEC. The Company’s management has discussed the matters disclosed pursuant to this Item 4.02(a) with the Company’s independent registered public accounting firm, WithumSmith+Brown, PC. 1 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825473/000121390023024903/0001213900-23-024903-index.htm

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