8-K: Anterix Inc. Announces Change in Independent Registered Public Accounting Firm

Anterix Inc. has dismissed Grant Thornton LLP as its independent registered public accounting firm and engaged Deloitte & Touche LLP, effective immediately, with no reported disagreements or reportable events.

Summary

• Anterix Inc. dismissed Grant Thornton LLP as its independent registered public accounting firm on June 26, 2025.
• The decision to dismiss Grant Thornton LLP was approved by the Company's Audit Committee of the Board of Directors.
• Grant Thornton LLP's audit reports for the fiscal years ended March 31, 2025, and March 31, 2024, did not contain an adverse opinion, a disclaimer of opinion, nor were they qualified or modified.
• During the two most recent fiscal years ended March 31, 2025, and March 31, 2024, and through June 26, 2025, there were no disagreements on accounting principles, financial statement disclosure, or auditing scope and procedures with Grant Thornton LLP.
• No reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K, occurred during the fiscal years ended March 31, 2025, and March 31, 2024.
• Anterix Inc. engaged Deloitte & Touche LLP as its new independent registered public accounting firm for the year ending March 31, 2026, effective June 25, 2025.
• The engagement of Deloitte & Touche LLP is subject to the completion of their standard client acceptance procedures and execution of an engagement letter.
• Anterix Inc. did not consult with Deloitte & Touche LLP on any accounting principles or audit opinions during the two most recent fiscal years.

Sentiment

Score: 7

Explanation: The change in auditors is a neutral event, but the explicit statement of no disagreements or reportable events with the outgoing firm, and the engagement of another Big Four firm, indicates good corporate governance and transparency, which is mildly positive.

Positives

• No adverse opinions, disclaimers, qualifications, or modifications were issued by Grant Thornton LLP for the fiscal years ended March 31, 2025, and March 31, 2024.
• No disagreements on accounting principles, financial statement disclosure, or auditing scope and procedures were reported with the outgoing auditor, Grant Thornton LLP.
• No reportable events were identified with the outgoing auditor, indicating a clean audit history.

Risks

• The engagement of Deloitte & Touche LLP is subject to the completion of their standard client acceptance procedures and execution of an engagement letter, which introduces a minor contingency to the finalization of their role.

Future Outlook

Deloitte & Touche LLP has been approved as the independent registered public accounting firm for the fiscal year ending March 31, 2026, pending completion of their standard client acceptance procedures and execution of an engagement letter.

Management Comments

• The decision to dismiss Grant Thornton was approved by the Company’s Audit Committee of the Board of Directors.

Industry Context

Changes in independent auditors are a common occurrence in corporate governance, often driven by factors such as fee negotiations, desire for fresh perspectives, or rotation policies. The absence of reported disagreements or reportable events suggests this change is likely part of routine corporate governance rather than a response to specific financial or accounting issues, which aligns with best practices for maintaining auditor independence and fresh oversight.

Comparison to Industry Standards

• The change of auditors from Grant Thornton LLP to Deloitte & Touche LLP, both highly reputable global accounting firms, is consistent with standard corporate governance practices.
• Many public companies periodically rotate their auditors to ensure independence and fresh perspectives on financial reporting, a practice observed in large corporations globally.
• The explicit statement of no disagreements or reportable events with the outgoing auditor, Grant Thornton LLP, aligns with regulatory expectations for transparency during such transitions, similar to practices observed in companies like Verizon (which uses Ernst & Young) or AT&T (which uses Deloitte), where auditor changes, if they occur, are typically well-documented and free of contentious issues.

Corporate Governance

Stakeholder Impact

• Shareholders: Benefit from continued independent audit oversight and transparency in financial reporting.
• Management: Will work with a new auditing firm for future financial statements.

Next Steps

• Completion of Deloitte & Touche LLP's standard client acceptance procedures.
• Execution of an engagement letter with Deloitte & Touche LLP.
• Deloitte & Touche LLP to serve as independent registered public accounting firm for the fiscal year ending March 31, 2026.

Key Dates

Recommendation

Keywords

Anterix Inc., ATEX, SEC filing, Form 8-K, auditor change, independent registered public accounting firm, Grant Thornton LLP, Deloitte & Touche LLP, Audit Committee, corporate governance