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Red Flags Detected

  • Going Concern (new) — Auditor issued substantial-doubt going-concern opinion due to near-term debt maturity, insufficient liquidity, recurring losses, and negative operating cash flows.
  • Auditor Change (new) — CohnReznick replaced Deloitte as auditor for FY2025; Deloitte's 2024 opinion was clean with no disclosed disagreements or reportable events, indicating routine rotation.
NYSE: SPRU SPRUCE POWER HOLDING CORP 10-K/A

SPRU amendment adds going-concern opinion, $122.9M negative working capital on debt maturity

Filed July 24, 2026 · Period ending December 31, 2025 · Compared to 10-K/A Apr 23, 2026 · ~2 min read

Key Financials

SEC XBRL

Period financials are unchanged from the original 10-K/A (same period end Dec 31, 2025). This amendment updates disclosure only — see the diff below.

Key Changes

  • high

    Auditor issued substantial-doubt going-concern opinion: SP1 Facility matures Oct 2026 (or Jan 2027 with term sheet), company lacks committed refinancing or sufficient cash to repay, and has $122.9M negative working capital driven by current debt classification.

    Notes: going-concern substantial doubt verify on EDGAR →
  • high

    SP1 Facility extended to Oct 30, 2026 (or Jan 30, 2027 with signed term sheet); margin rises from 2.75% to 3.25% after Oct 2026, and amendment adds cross-default provision linking SP1 to Second Key Bank Credit Agreement.

    Notes: SP1 Facility maturity extension verify on EDGAR →
  • high

    Securities class action settled for $19.5M gross ($15.0M net of insurance), alleging Exchange Act violations; court approved April 2024, company paid Feb 2024.

    Notes: securities class action settlement verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov

Source-verified from EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify