General Fusion taps PwC after $411.3 million restatement tied to subscription liability valuation error

• General Fusion Group appointed PwC as independent auditor for fiscal 2026, effective beginning with the quarter ended Sept. 30, 2026.
• WithumSmith+Brown resigned as auditor effective Sept. 21, 2026; its 2025 audit report included a going-concern paragraph.
• A previously disclosed restatement corrected valuation inputs for a subscription agreement liability in the March 31, 2026 quarter.
• The liability was overstated by about $411.3 million; net loss for the quarter was overstated by the same amount.
• Management identified a material weakness in controls over valuing complex financial instruments; disclosure controls were not effective as of March 31, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. General Fusion Group Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-109354), on September 21, 2026, and is solely responsible for the information contained therein.