Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On April 12, 2021, the staff of the Securities and Exchange Commission (the "SEC") issued a public statement entitled "Staff Statement on Accounting and Reporting Considerations for Warrants issued by Special Purpose Acquisition Companies" ("SPACs") (the "Statement"). In the Statement, the SEC staff expressed its view that certain terms and conditions common to SPAC warrants may require the warrants to be classified as liabilities on the SPAC's balance sheet as opposed to equity. Since issuance on October 20, 2020 (the "IPO Date"), the outstanding warrants ("Warrants") to purchase ordinary shares of Turmeric Acquisition Corp. (the "Company") were accounted for as equity within the Company's financial statements, and after discussion and evaluation, including with the Company's independent registered public accounting firm, WithumSmith+Brown, PC ("Withum"), the Company has concluded that its warrants should be presented as liabilities as of the IPO Date reported at fair value with subsequent fair value remeasurement at each reporting period.

On June 12, 2021, the Audit Committee of the Board of Directors of the Company concluded, after discussion with the Company's management, that the Company's financial statements for the period from August 28, 2020 (Inception) through December 31, 2020 (the "Non-Reliance Period") as included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 31, 2021 (the "Original Form 10-K") should no longer be relied upon due to changes required to reclassify the Warrants as liabilities to align with the requirements set forth in the Statement. As soon as practicable, the Company will file an amendment to its Original Form 10-K, which will include the restated audited financial statements for the Non-Reliance Period. In addition, the audit report of Withum included in the Original Form 10-K should no longer be relied upon.

Similarly, press releases, earnings releases and investor presentations or other communications describing the Company's financial statements and other related financial information covering the Non-Reliance Period should no longer be relied upon.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses