Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review.
Alpha Partners Technology Merger Corp. (the "Company") previously presented a
portion of its shares of Class A ordinary shares subject to redemption (the
"Class A Ordinary Shares") as permanent equity because the Company's certificate
of incorporation does not permit redemptions of Class A Ordinary Shares that
would cause the Company's net tangible assets to be less than $5,000,001. After
discussion and evaluation, including with the Company's independent registered
public accounting firm, Marcum LLP ("Marcum"), the Company has concluded that
all Class A Ordinary Shares should be classified as temporary equity because
such shares can be redeemed or become redeemable subject to the occurrence of
events outside the Company's sole control.
On November 19, 2021, the Audit Committee of the Board of Directors of the
Company concluded, after discussion with the Company's management, that the
Company's audited balance sheet as of July 30, 2021 filed as Exhibit 99.1 to the
Company's Current Report on Form 8-K filed with the SEC on August 5, 2021,
should no longer be relied upon due to changes required to classification of
temporary equity and permanent equity described above. The Company plans to
reflect this reclassification of Class A Ordinary Shares subject to redemption
in equity and restate its financial statements in its upcoming Quarterly Report
on Form 10-Q for the quarterly period ended September 30, 2021 to be filed with
the SEC and plans to amend the Current Report on Form 8-K filed on August 5,
2021 to file the revised audited balance sheet as of July 30, 2021.
The Company's management has concluded that in light of the classification error
described above, a material weakness exists in the Company's internal control
over financial reporting and that the Company's disclosure controls and
procedures were not effective.
The Company does not expect any of the above changes will have any impact on its
cash position and cash held in the trust account.
In addition, the Company's audited balance sheet as of July 30, 2021 and the
related audit report of Marcum included in Exhibit 99.1 to the Company's Form
8-K filed on August 5, 2021 should no longer be relied upon.
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