M&A - COASTAL FINANCIAL CORP

Form Type: 8-K

Filing Date: 2025-06-04

Corporate Action: Merger

Type: New

Accession Number: 000143795825000130

Filing Summary: On June 3, 2025, Coastal Financial Corporation was informed that Moss Adams LLP, its independent registered public accounting firm, merged with Baker Tilly US, LLP, effective the same day. Following this merger, Moss Adams has resigned as the Company's auditors. The Audit Committee of Coastal Financial Corporation's Board of Directors approved Baker Tilly as the successor auditing firm. The audit reports from Moss Adams for the years ended December 31, 2024, and 2023, did not contain adverse opinions, but their internal control report had an adverse opinion. There were no disagreements with Moss Adams regarding accounting principles, practices, or audit scope during the specified periods, and Baker Tilly was not consulted on these matters before the merger. A letter from Moss Adams to the Securities Exchange Commission, stating their agreement with the report's statements, is included as an exhibit in the filing.