Adagio Medical restates FY2023 financials due to duplicate interest accounting; net loss reduced by $1.6M

Adagio Medical Holdings, Inc.

Restatement corrects double-counting of accrued interest on convertible notes; net loss for 2023 reduced by $1.556M to $36.590M.
Convertible notes payable reduced by $1.556M to $36.430M as of Dec 31, 2023; accumulated deficit revised to $133.649M.
Auditor's report includes going concern doubt: $1.4M cash on hand, $133.6M accumulated deficit, recurring losses.
Company completed SPAC merger with ARYA on July 31, 2024; filing restates legacy financials for periods before that transaction.
Net cash used in operations was $25.7M for 2023; working capital deficit of $42.0M as of Dec 31, 2023.

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