secwatch.observer — SEC 8-K summary
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Issuer:     Prospector Capital Corp. (—)
CIK:        0001825473
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001213900-23-024903
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825473/000121390023024903/0001213900-23-024903-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825473/000121390023024903/ea176139-8k_prospector.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-024903

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