Celularity Changes Auditors Amidst Audit Scope Disagreement
Ticker: CELUW · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1752828
Sentiment: neutral
Topics: auditor-change, accounting, disagreement
Related Tickers: CELU
TL;DR
Celularity swapped auditors (WithumSmith+Brown out, EisnerAmper in) due to a disagreement over audit scope for FY23.
AI Summary
Celularity Inc. announced on July 31, 2024, the departure of its independent registered public accounting firm, WithumSmith+Brown, PC. The company has appointed EisnerAmper LLP as its new independent registered public accounting firm, effective immediately. This change follows a disagreement regarding the scope of audit procedures for the fiscal year ended December 31, 2023.
Why It Matters
A change in auditors, especially one involving disagreements, can signal potential accounting issues or a shift in the company's financial reporting strategy, warranting investor attention.
Risk Assessment
Risk Level: medium — A change in auditors, particularly when preceded by a disagreement, can indicate underlying financial reporting concerns or complexities.
Key Players & Entities
- Celularity Inc. (company) — Registrant
- WithumSmith+Brown, PC (company) — Former independent registered public accounting firm
- EisnerAmper LLP (company) — New independent registered public accounting firm
- July 31, 2024 (date) — Date of earliest event reported
- December 31, 2023 (date) — Fiscal year end for audit disagreement
FAQ
When did the change in independent registered public accounting firm become effective?
The change became effective immediately as of July 31, 2024.
What was the reason cited for the departure of WithumSmith+Brown, PC?
The filing indicates a disagreement between Celularity Inc. and WithumSmith+Brown, PC regarding the scope of audit procedures for the fiscal year ended December 31, 2023.
Who is Celularity Inc.'s new independent registered public accounting firm?
Celularity Inc. has appointed EisnerAmper LLP as its new independent registered public accounting firm.
What is the fiscal year end for which the audit scope disagreement occurred?
The disagreement pertains to the audit procedures for the fiscal year ended December 31, 2023.
Did WithumSmith+Brown, PC consent to the change?
The filing states that WithumSmith+Brown, PC's reports on the financial statements for the past two years did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit basis, or scope. It also states that the firm has not been engaged by Celularity Inc. to perform any procedures related to the prior period financial statements.
Filing Stats: 1,022 words · 4 min read · ~3 pages · Grade level 14.1 · Accepted 2024-08-05 17:15:11
Key Financial Figures
- $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share CELU The Nasdaq
- $11.50 — A Common Stock at an exercise price of $11.50 per share CELUW The Nasdaq Stock Ma
Filing Documents
- form8-k.htm (8-K) — 51KB
- ex16-1.htm (EX-16.1) — 6KB
- 0001493152-24-030288.txt ( ) — 275KB
- celu-20240731.xsd (EX-101.SCH) — 4KB
- celu-20240731_def.xml (EX-101.DEF) — 26KB
- celu-20240731_lab.xml (EX-101.LAB) — 36KB
- celu-20240731_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
SIGNATURES
SIGNATURES 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. CELULARITY INC. Date: August 5, 2024 By: /s/ Robert J. Hariri Robert J. Hariri, M.D., Ph.D. Chairman and CEO