DEFA14A: Establishment Labs Holdings Inc. Announces Change in Auditor Ahead of 2025 Annual General Meeting
Proxy Statement Supplement
Establishment Labs Holdings Inc. supplements its proxy statement to reflect the engagement of CBIZ CPAs P.C. as the new independent registered public accounting firm following Marcum LLP's resignation.
Summary
- Establishment Labs Holdings Inc. has issued a supplement to its proxy statement for the 2025 Annual General Meeting of Shareholders.
- The supplement addresses a change in the company's independent registered public accounting firm.
- Marcum LLP resigned on May 20, 2025, and Establishment Labs engaged CBIZ CPAs P.C. as its new auditor, with the approval of the Audit Committee.
- This change follows CBIZ's acquisition of Marcum's attest business on November 1, 2024.
- Shareholders who have already submitted their votes do not need to take further action unless they wish to change or revoke their previous instructions.
- Previously submitted votes for CBIZ, Inc. (formerly Marcum) will be treated as a vote for CBIZ.
Sentiment
Score: 7
Explanation: The announcement is procedural and reflects a standard business operation (auditor change due to acquisition). There is no indication of financial distress or other negative implications, so the sentiment is neutral to slightly positive.
Positives
- The transition to a new auditor appears to be handled smoothly with the Audit Committee's approval.
- Shareholders' existing votes will be automatically counted for the new auditor, minimizing disruption.
Future Outlook
The company urges shareholders to vote their shares prior to the Annual Meeting by using one of the methods described in the Proxy Statement.
Industry Context
Changes in auditors are not uncommon, especially following mergers and acquisitions within the accounting industry. Companies routinely update their proxy statements to reflect such changes to ensure transparency and compliance.
Stakeholder Impact
- Shareholders need to be aware of the change in auditor when voting on relevant proposals at the Annual General Meeting.
Next Steps
- Shareholders are encouraged to vote their shares prior to the Annual Meeting.
- The Annual Meeting will be held on May 23, 2025.
Key Dates
| Date | Description |
|---|---|
| November 1, 2024 | CBIZ CPAs P.C. acquired the attest business of Marcum LLP. |
| April 10, 2025 | Date of the original definitive proxy statement. |
| May 20, 2025 | Marcum LLP resigned as the independent registered public accounting firm; Establishment Labs engaged CBIZ CPAs P.C. |
| May 21, 2025 | Date of the proxy statement supplement. |
| May 23, 2025 | Date of the Annual General Meeting of Shareholders. |
Keywords
auditor, CBIZ, Marcum, Establishment Labs, proxy statement, Annual General Meeting, accounting firm
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