---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-068314"
form_type: "8-K"
ticker: "BSLK"
cik: "0001841125"
company_name: "Bolt Projects Holdings, Inc."
filed_at: "2023-08-17T23:59:59+00:00"
generated_at: "2026-06-11T07:55:12.054295+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Golden Arrow restates Q1 2023 financials due to error in valuation of convertible promissory notes

## Summary
- Previously issued Q1 2023 financials should no longer be relied upon; convertible notes incorrectly valued at fair value instead of par.
- Audit committee concluded restatement required; restated Q1 financials filed in Q2 10-Q concurrently on August 16, 2023.
- Material weakness in internal control over financial reporting related to complex financial instrument accounting; disclosure controls ineffective as of June 30, 2023.
- Company states no impact on cash position or trust account cash from IPO.

## SEC filing metadata
- accession: 0001213900-23-068314
- form_type: 8-K
- ticker: BSLK
- cik: 0001841125
- company_name: Bolt Projects Holdings, Inc.
- filed_at: 2023-08-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841125/000121390023068314/0001213900-23-068314-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841125/000121390023068314/ea183771-8k_golden.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-068314
- JSON: https://secwatch.observer/filing/0001213900-23-068314.json
- Plain text: https://secwatch.observer/filing/0001213900-23-068314.txt

## Key facts
- Auditor Changes
  Bolt Projects Holdings, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: on August 16, 2023, the audit committee of the Company’s board of directors concluded, after discussion with the Company’s management, that the Company’s previously issued unaudited interim financial statements and other financial data included in Q1 Form 10-Q should be restated to instead value the Convertible Promissory Notes at par value and should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841125/000121390023068314/0001213900-23-068314-index.htm

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