Ocean Power Technologies Changes Independent Auditor
Ticker: OPTT · Form: 8-K · Filed: Jun 6, 2025 · CIK: 1378140
Sentiment: neutral
Topics: auditor-change, financial-reporting
Related Tickers: OPTT
TL;DR
OPT switches auditors from PwC to WithumSmith+Brown, effective immediately.
AI Summary
Ocean Power Technologies, Inc. announced on June 3, 2025, 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 immediately.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.
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
- Ocean Power Technologies, Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — Former Certifying Accountant
- WithumSmith+Brown, PC (company) — New Certifying Accountant
- June 3, 2025 (date) — Date of earliest event reported
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective immediately as of June 3, 2025.
Who was Ocean Power Technologies' previous independent auditor?
Ocean Power Technologies' previous independent auditor was PricewaterhouseCoopers LLP.
Who is Ocean Power Technologies' new independent auditor?
Ocean Power Technologies' new independent auditor is WithumSmith+Brown, PC.
What is the filing date of this 8-K report?
This 8-K report was filed on June 6, 2025.
What is the primary reason for the auditor change disclosed in this filing?
The filing states that the company dismissed PricewaterhouseCoopers LLP and engaged WithumSmith+Brown, PC as its new independent registered public accounting firm, effective immediately.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on June 6, 2025 regarding Ocean Power Technologies, Inc. (OPTT).