Pangaea Logistics Changes Auditors

TL;DR

Pangaea Logistics swapped auditors from BDO USA to PwC.

AI Summary

Pangaea Logistics Solutions Ltd. announced on August 27, 2025, a change in its certifying accountant. The company has dismissed its previous independent registered public accounting firm, BDO USA, P.C., and has appointed PricewaterhouseCoopers LLP as its new auditor.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which could impact investor confidence.

Risk Assessment

Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other disclosures that may impact the company's financial health.

Key Players & Entities

• Pangaea Logistics Solutions Ltd. (company) — Registrant
• BDO USA, P.C. (company) — Former certifying accountant
• PricewaterhouseCoopers LLP (company) — New certifying accountant
• August 27, 2025 (date) — Date of earliest event reported

FAQ

Filing Documents

• panl-20250827.htm (8-K) — 35KB
• exhibit161.htm (EX-16.1) — 3KB
• 0001606909-25-000148.txt ( ) — 152KB
• panl-20250827.xsd (EX-101.SCH) — 2KB
• panl-20250827_lab.xml (EX-101.LAB) — 21KB
• panl-20250827_pre.xml (EX-101.PRE) — 12KB
• panl-20250827_htm.xml (XML) — 3KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant. Dismissal of Independent Registered Public Accounting Firm On August 27, 2025, the Audit Committee of the Board of Directors of Pangaea Logistics Solutions Ltd. (the "Company") completed a competitive process to determine the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025. Following that process, on August 27, 2025, the Company informed Grant Thornton LLP ("Former Auditor") of its dismissal as the Company's independent registered public accounting firm, effective immediately. The reports of the Former Auditor on the Company's consolidated financial statements for the two most recent fiscal years ended December 31, 2024 and December 31, 2023 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the Company's two most recent fiscal years ended December 31, 2024 and December 31, 2023, and during the subsequent interim period through August 27, 2025, there were (1) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) with the Former Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of the Former Auditor, would have caused the Former Auditor to make reference to the subject matter of the disagreements in connection with its reports, and (2) no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K, other than, as previously disclosed in Item 9A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, a material weakness in internal control over financial reporting related to the application of ASC 606, Revenue from Contracts with Customers, in accounting for certain customer reimbursements. The Board of Directors discussed this matter wi

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 16.1 Letter from Grant Thornton LLP. to the Securities and Exchange Commission, dated August 29, 2025 . 104 Cover Page Interactive Data File ( embedded within Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 29, 2025 PANGAEA LOGISTICS SOLUTIONS LTD. By: /s/ Gianni Del Signore Name: Gianni Del Signore Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR