On March 29, 2024, Harbor Diversified filed a current report on Form 8-K with the U.S. Securities and Exchange Commission. In this current report, Harbor Diversified disclosed “the Company’s previously issued (i) consolidated financial statements and related disclosures as of and for the year ended December 31, 2022 contained in the Company’s Annual Report on Form 10-K, (ii) interim consolidated financial statements and related disclosures contained in the Quarterly Reports on Form 10-Q as of and for the first three quarters of the year ended December 31, 2022, and (iii) interim consolidated financial statements and related disclosures contained in the Quarterly Reports on Form 10-Q as of and for the first three quarters of the year ended December 31, 2023 (collectively, the “Non-Reliance Periods”) should no longer be relied upon due to misstatements contained in such financial statements, and that such financial statements should be restated.”
On this news, Harbor Diversified’s stock fell $0.28 per share, or 14.3%, to close at $1.73 per share on April 1, 2024.