Dominari Holdings Inc. (NASDAQ:DOMH), a security brokerage firm with a market capitalization of $67.58 million, has announced a change in its independent registered public accounting firm. According to InvestingPro data, the company’s stock has shown remarkable performance this year, with a year-to-date return of nearly 394%, though it remains unprofitable with earnings per share of -$2.38 over the last twelve months. On April 25, 2025, Marcum LLP resigned as the company’s auditor following the acquisition of its attest business by CBIZ (NYSE:CBZ) CPAs P.C. on November 1, 2024. Subsequently, with the approval of Dominari’s Audit Committee, CBIZ CPAs P.C. was engaged as the new auditor for the fiscal year ending December 31, 2025.
The company’s financial statements for the fiscal years ended December 31, 2024, and December 31, 2023, audited by Marcum, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 5.92, indicating robust ability to meet short-term obligations.
Furthermore, there were no disagreements on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures between the company and Marcum during the fiscal years mentioned above and up to the date of Marcum’s resignation. Additionally, no "reportable events," as defined in Regulation S-K, occurred during this period.
Dominari Holdings has confirmed that it did not consult CBIZ CPAs P.C. on any accounting principles or auditing matters that would influence the company’s financial reporting. In compliance with regulatory requirements, Dominari Holdings provided Marcum with a copy of this announcement before filing with the SEC and has included Marcum’s letter dated April 30, 2025, as Exhibit 16.1 in the 8-K filing.
This transition of auditors is detailed in the company’s recent 8-K filing with the SEC, which serves as the source of information for this article. The company is headquartered in New York, NY, and is incorporated in Delaware. With the stock trading near its InvestingPro Fair Value and showing significant momentum, investors can access additional insights, including 8 more exclusive ProTips and comprehensive financial analysis, through an InvestingPro subscription.
In other recent news, Dominari Holdings Inc. has announced a special cash dividend of $0.32 per share, amounting to approximately $4.6 million, to be distributed to shareholders by March 2025. The company has also initiated a registered direct offering and concurrent private placement to raise approximately $13.5 million, with the proceeds intended for working capital, general corporate purposes, and the declared dividend. Dominari Holdings has further expanded its operations following FINRA’s approval for its subsidiary, Dominari Securities LLC, to add 50 new seats and increase office locations. In a strategic move, Dominari has ventured into the formation of American Data Centers Inc. with a 32% stake, aiming to construct a network of energy-efficient data centers. Donald Trump Jr. and Eric Trump have joined Dominari’s Board of Advisors, expected to provide valuable insights as the company explores investment opportunities in AI and data centers. CEO Anthony C. Hayes emphasized the strategic alignment of Dominari’s expansion with its focus on supporting early-stage companies. Additionally, the company has cautioned against undue reliance on forward-looking statements due to potential risks and uncertainties.
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