UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
of The Securities Exchange Act of 1934
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Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
On June 5, 2025, Finnovate Acquisition Corp. (the “Company”) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Annual Report”), which included an audit report of its former independent registered public accounting firm, Marcum LLP (“Marcum”) with respect to the fiscal year ended December 31, 2023.
On June 5, 2025 Marcum notified the Company that it had not yet completed the required audit procedures necessary to issue its audit report. Therefore, Marcum had not provided its authorization to include the audit report in the 2024 Annual Report and did not sign the audit report.
The Company’s financial statements for the year ended December 31, 2023 included in the 2024 Annual Report are unaudited and should not be relied upon based on the deficiency noted above. As a result, the Company intends to file an Amendment No.1 on Form 10-K/A for the year ended December 31, 2024 to correct this deficiency as soon as practicable. The only changes that are expected to be made in the Form 10-K/A relate to (i) the cover page, which will be updated to reflect that the Company’s securities are registered pursuant to Section 12(g) of the Act; (ii) Part II, Item 8, “Financial Statements and Supplementary Data,” which will include the authorized Marcum audit report; and (iii) Part IV, Item 15, “Exhibits and Financial Statement Schedules,” will be updated to include new certifications by the Company’s principal executive officer and principal financial officer.
The audit committee and the Company’s management have discussed the matters disclosed in this Current Report on Form 8-K with Marcum.
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.
| Finnovate Acquisition Corp. | ||
| Date: June 10, 2025 | By: | /s/ Calvin Kung |
| Name: | Calvin Kung | |
| Title: | Chief Executive Officer | |