Latch, Inc. Discloses New Financial Obligation

TL;DR

Latch just filed an 8-K about a new debt. Keep an eye on the details.

AI Summary

On July 1, 2024, Latch, Inc. filed an 8-K to disclose a direct financial obligation. The filing indicates a new financial commitment for the company, though specific details regarding the nature or amount of the obligation were not immediately available in this excerpt.

Why It Matters

This filing signals a new financial commitment for Latch, Inc., which could impact its financial health and future investment potential.

Risk Assessment

Risk Level: medium — The disclosure of a new financial obligation introduces uncertainty about the company's financial stability and future performance.

Key Players & Entities

• Latch, Inc. (company) — Registrant
• TS Innovation Acquisitions Corp. (company) — Former company name
• July 1, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $250,000 — mercial bank (the "Bank") and (ii) paid $250,000 of HelloTech's Merger-related expenses.
• $6.9 million — m loan with the Bank were approximately $6.9 million. However, the Bank agreed to forgive ap
• $0.9 million — he Bank agreed to forgive approximately $0.9 million in outstanding borrowings owed by Hello
• $6.0 million — off HelloTech's existing term loan for $6.0 million by July 15, 2024 (the "Debt Payoff").
• $1.25 — 's common stock at an exercise price of $1.25 per share and with a six-year term (suc

Filing Documents

• lat-20240701.htm (8-K) — 30KB
• 0001826000-24-000028.txt ( ) — 140KB
• lat-20240701.xsd (EX-101.SCH) — 2KB
• lat-20240701_lab.xml (EX-101.LAB) — 19KB
• lat-20240701_pre.xml (EX-101.PRE) — 11KB
• lat-20240701_htm.xml (XML) — 2KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. The information set forth in the Introductory Note of this Report is incorporated herein by reference. The information set forth in Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Forward-Looking Statements

Forward-Looking Statements This Report contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding adoption of the Company's technology and products. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "would," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking information includes, but is not limited to, statements regarding the negotiation of the New Debt Arrangement (together with the Merger, the "Transactions"). Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: (i) the risk that the New Debt Arrangement may not be agreed upon with the Bank or completed in a timely manner or at all, or that the terms thereof may differ from the Company's current expectations; (ii) the risk that the Transactions may involve unexpected costs, liabilities or delays; (iii) the effect of the announcement, pendency or completion of the Transactions on the ability of the Company to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company does business, or on the Company's operating results and business generally; (iv) the risk that the Company's businesses may suffer as a result of uncertainty surrounding the Transactions and disruption of management's attention due to the Transactions; (v) the outcome of any legal proceedings related to the Transactions or otherwise, or the impact of the Transactions thereupon; (vi) risks that the anticipated benefits of the Transactions or other commercial opportun

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: July 1, 2024 By: /s/ Priyen Patel Name: Priyen Patel Title: Senior Vice President and General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR