Adagio Medical Holdings, Inc. (ADGM): auditor change — Adagio Medical announces restatement of FY2023, Q1 and Q2 2024 financials; material weakness identified

Adagio Medical Holdings, Inc.

Audit committee concluded FY2023 audited and Q1/Q2 2024 unaudited statements should not be relied upon due to accrued interest misstatement.
Error found during Q3 2024 prep; overstatement of accrued interest on convertible notes and other liabilities.
Company will restate financials via Amendment No. 2 to the Business Combination Super 8-K.
Material weakness in internal control over financial reporting regarding review of third-party valuation reports for debt/equity.
Remediation plan includes additional review of valuation reports, manual journal entries, and enhanced oversight controls.

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

Adagio Medical Holdings, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: WithumSmith+Brown, PC

Exact text from the filing

024 and 2023, which were reported in an amendment to the Business Combination Super 8-K on Form 8-K/A filed with the SEC on August 14, 2024 (the periods referenced in clause (i), (ii), and (iii), the “Relevant Periods”) should no longer be relied upon with respect to the error described below and should be restated. In addition, any earnings releases or other communications relating to the Relevant Periods should no longer be relied upon with respect to the error described below. As the Company previously reported on the Business Combination Super 8-K, on July 31, 2024 (the “Closing Date”), the Company consummated a business combination pursuant to the terms of the Business Combination Ag

View on SEC.gov

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

Adagio Medical Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-014144

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.