Palladyne AI Corp. Changes Independent Auditor
Ticker: PDYNW · Form: 8-K · Filed: Apr 9, 2024 · CIK: 1826681
| Field | Detail |
|---|---|
| Company | Palladyne Ai Corp. (PDYNW) |
| Form Type | 8-K |
| Filed Date | Apr 9, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $69.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: PDYN
TL;DR
Palladyne AI Corp. swapped auditors, moving from PwC to WithumSmith+Brown.
AI Summary
Palladyne AI Corp. announced on April 3, 2024, a change in its certifying accountant. The company has dismissed PricewaterhouseCoopers LLP and engaged WithumSmith+Brown, PC as its new independent registered public accounting firm. This change is effective as of April 3, 2024.
Why It Matters
A change in auditors can sometimes signal underlying issues or a strategic shift within a company, warranting investor attention.
Risk Assessment
Risk Level: low — This filing reports a routine change in the company's independent auditor, which typically does not carry significant financial risk.
Key Players & Entities
- Palladyne AI Corp. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — Former Certifying Accountant
- WithumSmith+Brown, PC (company) — New Certifying Accountant
- April 03, 2024 (date) — Effective date of change
FAQ
Who was Palladyne AI Corp.'s previous certifying accountant?
Palladyne AI Corp.'s previous certifying accountant was PricewaterhouseCoopers LLP.
Who is Palladyne AI Corp.'s new independent registered public accounting firm?
Palladyne AI Corp. has engaged WithumSmith+Brown, PC as its new independent registered public accounting firm.
When was the change in certifying accountant effective?
The change in certifying accountant was effective as of April 03, 2024.
Did the company have any disagreements with its former accountant?
The filing does not mention any disagreements with PricewaterhouseCoopers LLP.
What is the ticker symbol for Palladyne AI Corp.?
The ticker symbol for Palladyne AI Corp. is not explicitly stated in this 8-K filing, but it is identified as 'pdyn' in some internal document references.
Filing Stats: 819 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-04-09 16:09:21
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share PDYN The Nasdaq Stock Mar
- $69.00 — of Common Stock at an exercise price of $69.00 per share PDYNW The Nasdaq Stock Ma
Filing Documents
- pdyn-20240403.htm (8-K) — 47KB
- pdyn-ex16_1.htm (EX-16.1) — 4KB
- 0000950170-24-042970.txt ( ) — 194KB
- pdyn-20240403.xsd (EX-101.SCH) — 44KB
- pdyn-20240403_htm.xml (XML) — 6KB
01. Change in Registrant's Certifying Accountant
Item 4.01. Change in Registrant's Certifying Accountant. (a) Dismissal of Previous Independent Registered Public Accounting Firm On April 3, 2024, the Audit Committee (the "Audit Committee") of the Board of Directors of Palladyne AI Corp. (the "Company") dismissed Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm, effective immediately. The Audit Committee oversaw a competitive process to determine the Company's independent registered public accounting firm for the 2024 fiscal year. Several independent registered public accounting firms were invited to participate in the process. EY was invited to participate, but declined. EY's reports on the Company's financial statements as of and for the years ended December 31, 2023 and 2022 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through April 3, 2024, there were no (a) "disagreements" within the meaning of Item 304(a)(1)(iv) of Regulation S-K promulgated under the Exchange Act ("Regulation S-K") and the related instructions thereto, with EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to EY's satisfaction, would have caused it to make reference to the subject matter of the disagreement in connection with its reports on the Company's financial statements or (b) "reportable events" requiring disclosure pursuant to Item 304(a)(1)(v) of Regulation S-K and the related instructions thereto. The Company has provided EY with the disclosures under this Item 4.01(a), and has requested EY to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company in this Item 4.01(a) and, if not, stati
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 16.1 Letter from Ernst & Young LLP to the Securities and Exchange Commission dated April 9, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL) 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. Palladyne AI Corp. Dated: April 9, 2024 By: /s/ Stephen Sonne Name: Title: Stephen Sonne Chief Legal Officer & Secretary