secwatch.observer — SEC 8-K summary
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Issuer:     Adagio Medical Holdings, Inc. (ADGM)
CIK:        0002006986
Form:       8-K/A
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001558370-24-014189
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2006986/000155837024014189/0001558370-24-014189-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2006986/000155837024014189/adgm-20240731x8ka.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-014189

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