Bolt Projects Holdings, Inc. (BSLK): auditor change — Non-reliance on FY2023 audited financials due to trust account disclosure omission; $510K sponsor note

Bolt Projects Holdings, Inc.

Non-reliance on FY2023 audited financials; omission in notes about inadvertent trust account funds used for general corporate purposes.
Restatement filed as 10-K/A; no impact on cash, trust balance, or historical financials beyond note disclosure.
Material weakness in internal control over financial reporting; disclosure controls ineffective as of 12/31/2023.
Issued up to $510K unsecured promissory note to sponsor, convertible into warrants at $1.50/warrant, due at business combination.

item 1.01 item 2.03 item 4.02 item 9.01

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

Bolt Projects Holdings, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: WithumSmith+Brown, PC

Exact text from the filing

On April 4, 2024, the Company’s audit committee concluded, after discussion with the Company’s management and its advisors, that the Company’s audited financial statements as of and for the year ended December 31, 2023 included in the Original Filing should no longer be relied upon due to the omission described above and should be restated.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bolt Projects Holdings, Inc. incurred loan of up to $510,000 with Golden Arrow Sponsor, LLC at bears no interest maturing the date of the consummation of the Company's initial business combination.

Instrument: loan
Principal: up to $510,000
Counterparty: Golden Arrow Sponsor, LLC
Rate: bears no interest
Maturity: the date of the consummation of the Company's initial business combination
Event: incurrence

Exact text from the filing

On April 3, 2024, Golden Arrow Merger Corp. (the “Company”) issued an unsecured promissory note (the “Note”), in the amount of up to $510,000 to Golden Arrow Sponsor, LLC (the “Sponsor”).

View on SEC.gov

48 auditor changes filed in the last 30 days. Browse all auditor changes →

Bolt Projects Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-030629

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.