Aeries Technology Announces Restatement of Previously Issued Financial Statements

NEW YORK, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Aeries Technology, Inc. (Nasdaq: AERT) (the “Company” or “Aeries Technology”), a global professional services and consulting partner, today filed an amendment to a Current Report on Form 8-K that has restated financial statements of its subsidiary, AARK Singapore Pte. Ltd. ("AARK"). AARK restated its financial statements due to a stock split that caused a change in the number of shares outstanding at AARK, and therefore the earnings per share of AARK. The stock split and resultant change in earnings per share are the only changes to the financial statements of AARK as a result of the restatement.

No financial metrics of Aeries Technology were affected by the restatement, including the number of Class A ordinary shares outstanding, revenue, Adjusted EBITDA, or net income. The Company does not expect this restatement to affect any post-combination financials.

About Aeries Technology

Aeries Technology (Nasdaq: AERT) is a global professional services and consulting partner for businesses in transformation mode and its stakeholders including private equity sponsors and their portfolio companies with customized engagement models that are designed to provide the right mix of deep vertical specialty, functional expertise, and the right systems & solutions to scale, optimize and transform a client’s business operations. Founded in 2012, Aeries Technology now has over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives, geared towards providing tailored solutions to drive business success. Aeries Technology’s unique approach to staffing and developing its workforce has earned it the Great Place to Work Certification.


Ryan Gardella