M&A - Foxx Development Holdings Inc.

Form Type: 8-K

Filing Date: 2025-05-06

Corporate Action: Merger

Type: Update

Accession Number: 000121390025040241

Filing Summary: On May 1, 2025, Foxx Development Holdings Inc. reported changes regarding its independent registered public accounting firm. Marcum LLP resigned after CBIZ CPAs P.C. acquired Marcum's attest business. The Audit Committee accepted Marcum's resignation. Marcum had served as auditor for Foxx Development prior to its merger with a subsidiary of Foxx Holdings on September 26, 2024. Despite Marcum maintaining a clean opinion on prior financial statements, there were significant internal control weaknesses identified. The Audit Committee subsequently approved CBIZ as the new auditor effective May 1, 2025. The document notes the absence of any disagreements with Marcum on accounting principles and the lack of reportable events apart from identified weakness in internal controls.