Bolt Projects Holdings, Inc.: Auditor Resignation and No Disagreements Reported

Key Points and Summary:

• Auditor Resignation: On February 25, 2026, Bolt Projects Holdings, Inc. (“Company”) received formal notice that its independent registered public accounting firm, Elliott Davis, PLLC (“Elliott Davis”), had decided to resign from its engagement with the Company, effective February 27, 2026.
• Scope of Elliott Davis’ Work: Elliott Davis audited the Company’s consolidated financial statements for the past two fiscal years and the subsequent interim periods. There were no disagreements between the Company and Elliott Davis regarding accounting principles, practices, financial disclosure, or auditing scope and procedures during this period, which would have required reference in their audit reports.
• Reportable Events: There were no “reportable events” as defined under Item 304(a)(1)(v) of Regulation S-K, except for previously disclosed material weaknesses in internal controls. These weaknesses were disclosed under “Item 9A. Controls and Procedures—Evaluation of Controls and Procedures” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed March 18, 2025.
• Auditor Confirmation: Elliott Davis has provided a letter to the SEC confirming its agreement with the Company’s disclosures relating to its resignation and the absence of disagreements or reportable events. This letter is filed as Exhibit 16.1 to the Current Report on Form 8-K.
• Corporate Structure: The Company operates under the SIC code “Industrial Organic Chemicals [2860]” and is incorporated in Delaware. Its business address is 2261 Market Street, Suite 5447, San Francisco, CA 94114, with a phone number of 619-248-4062.
• Securities Information:
  • Common stock, par value \$0.0001 per share (Trading Symbol: BSLK) is listed on OTC Pink.
  • Warrants, each 20 whole warrants exercisable for one share of Common stock at an exercise price of \$230.00 (Trading Symbol: BSLKW) are also listed on OTC Pink.
• Emerging Growth Company: The Company is classified as an “emerging growth company” under Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934.
• No Extended Transition Period: The Company has not elected to use the extended transition period for complying with new or revised financial accounting standards.

Implications for Shareholders and Potentially Price-Sensitive Information:

• Auditor Change: The resignation of Elliott Davis, PLLC as the independent auditor could be viewed as a significant event. While no disagreements or reportable events were cited, auditor changes often prompt investor scrutiny regarding the Company’s financial reporting and internal controls.
• Internal Controls Weaknesses: The Company has acknowledged material weaknesses in its internal controls over financial reporting, as previously disclosed. This could impact investor confidence in the Company’s governance and financial transparency.
• Share Price Impact: Auditor resignations and disclosures of material weaknesses in internal controls are typically considered material events by investors, potentially affecting share price due to concerns over financial reporting reliability and future audit outcomes.
• No Disagreements or Reportable Events: The absence of disagreements or new reportable events may mitigate concerns, but investors should closely monitor how the Company addresses its internal control issues and who will be appointed as the new auditor.

Additional Details:

• Corporate History: Bolt Projects Holdings, Inc. was formerly known as Golden Arrow Merger Corp. until January 19, 2021.
• Filing and Reporting: The 8-K filing covers the period ended February 25, 2026, and was signed by Chief Executive Officer Daniel Widmaier on February 27, 2026.

Disclaimer: This article is for informational purposes only and does not constitute investment, legal, or tax advice. Investors should review official SEC filings and consult with their financial advisors before making investment decisions. The information herein is based on public filings and may not reflect subsequent developments.

View Bolt Projects Holdings, Inc. Historical chart here