Latch, Inc. Faces Delisting Notice
Ticker: LTCHW · Form: 8-K · Filed: Mar 21, 2024 · CIK: 1826000
| Field | Detail |
|---|---|
| Company | Latch, INC. (LTCHW) |
| Form Type | 8-K |
| Filed Date | Mar 21, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, compliance
TL;DR
Latch is getting kicked off the exchange, big trouble.
AI Summary
Latch, Inc. filed an 8-K on March 21, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company was formerly known as TS Innovation Acquisitions Corp. and was incorporated in Delaware.
Why It Matters
This filing indicates potential issues with Latch, Inc.'s continued listing on a stock exchange, which could impact its stock price and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.
Key Players & Entities
- Latch, Inc. (company) — Registrant
- TS Innovation Acquisitions Corp. (company) — Former company name
- March 21, 2024 (date) — Date of report
FAQ
What specific listing rule or standard has Latch, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Latch, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the effective date of the delisting or the date by which the company must regain compliance?
The filing does not provide an effective date for delisting or a specific deadline for Latch, Inc. to regain compliance.
Has Latch, Inc. requested a hearing or review of the delisting determination?
The filing does not mention whether Latch, Inc. has requested a hearing or review of the delisting determination.
What are the potential consequences for Latch, Inc. if it cannot satisfy the continued listing requirements?
If Latch, Inc. cannot satisfy the continued listing requirements, it faces delisting from the stock exchange, which could severely impact its liquidity, stock price, and ability to raise capital.
When was Latch, Inc. formerly known as TS Innovation Acquisitions Corp.?
The filing states the date of the name change from TS Innovation Acquisitions Corp. to Latch, Inc. was September 24, 2020.
Filing Stats: 542 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-03-21 16:23:55
Key Financial Figures
- $0.0001 — ich registered Common stock, par value $0.0001 per share LTCH N/A (OTC Expert Market)
- $11.50 — of Common stock at an exercise price of $11.50 per share LTCHW N/A (OTC Expert Market)
Filing Documents
- lat-20240321.htm (8-K) — 25KB
- 0001826000-24-000004.txt ( ) — 177KB
- lat-20240321.xsd (EX-101.SCH) — 2KB
- lat-20240321_def.xml (EX-101.DEF) — 15KB
- lat-20240321_lab.xml (EX-101.LAB) — 26KB
- lat-20240321_pre.xml (EX-101.PRE) — 15KB
- lat-20240321_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on August 10, 2023, The Nasdaq Stock Market LLC ("Nasdaq") suspended trading in the securities of Latch, Inc. (the "Company") as a result of the Company's failure to regain compliance with its periodic filing obligations under Nasdaq Listing Rule 5250(c)(1). On March 21, 2024, Nasdaq filed a Form 25 Notification of Delisting with the Securities and Exchange Commission (the "SEC"), notifying the SEC of Nasdaq's determination to remove the Company's securities from listing on Nasdaq. The delisting will become effective April 1, 2024, ten days after the Form 25 was filed. The Company's common stock and warrants have been traded on the OTC Expert Market under the symbols "LTCH" AND "LTCHW," respectively, since August 10, 2023, and the Company expects that the final delisting action by Nasdaq will have no practical effect on the trading of its securities on the OTC Expert Market.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. Latch, Inc. Date: March 21, 2024 By: /s/ Priyen Patel Name: Priyen Patel Title: Senior Vice President and General Counsel