Range Capital Acquisition Corp. changes its auditor

Range Capital Acquisition Corp. (NASDAQ:RANGU), a $161.18 million market cap company currently trading at $10.27, has announced a change in its independent registered accounting firm. According to InvestingPro data, the company maintains relatively low price volatility, with its stock trading near its 52-week low of $10.00. On Monday, the company was informed that Marcum LLP resigned as its auditor. Following this, on Tuesday, with approval from the company’s Board of Directors, CBIZ (NYSE:CBZ) CPAs P.C. was appointed as the new auditor for the fiscal year ending December 31, 2025.

Marcum’s reports on the company’s financials for the fiscal year ended December 31, 2024, did not contain any adverse opinion or disclaimer and were not qualified or modified regarding audit scope or accounting principles. However, an explanatory paragraph highlighted substantial doubt about the company’s ability to continue as a going concern. This concern aligns with the company’s current InvestingPro Financial Health Score of 2.29, indicating "Fair" overall financial condition. Subscribers to InvestingPro can access detailed financial health metrics and additional insights about the company’s stability.

Throughout the fiscal year ended December 31, 2024, and up to the date of resignation, there were no disagreements with Marcum on accounting principles or practices, financial statement disclosure, or auditing scope or procedures. Additionally, there were no reportable events as defined by the SEC regulations.

Prior to engaging CBIZ CPAs P.C., Range Capital Acquisition Corp. did not consult with the firm on the application of accounting principles or the type of audit opinions that might be rendered on the company’s financial statements. They also did not seek advice that would be considered an important factor in the company’s decision-making on any accounting, auditing, or financial reporting issue.

The company has provided Marcum with a copy of the report filed with the SEC and has received a letter from Marcum, dated today, confirming their agreement with the statements made in the filing.

This corporate update is based on a press release statement and provides investors with essential information regarding the company’s recent change in its accounting firm. With the next earnings report expected on May 2, 2025, investors seeking comprehensive analysis can access additional technical indicators and financial metrics through InvestingPro, which offers exclusive insights beyond traditional financial statements.

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