Latcho Drom

Latch Announces First Building-Wide Installation of ‘Works with Latch’ Marks USA Locks

Retrieved on: 
Tuesday, May 30, 2023

Latch, Inc. (NASDAQ: LTCH), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced the completion of the first installation of Latch-powered Marks USA ArchiTech Series Networx Locks at Meridia Living’s Meridia Village Commons in South Orange, NJ .

Key Points: 
  • Latch, Inc. (NASDAQ: LTCH), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced the completion of the first installation of Latch-powered Marks USA ArchiTech Series Networx Locks at Meridia Living’s Meridia Village Commons in South Orange, NJ .
  • View the full release here: https://www.businesswire.com/news/home/20230530005152/en/
    “This first installation with Marks USA is a milestone in accelerating Latch’s vision to make it easier for customers to deliver the best resident experience,” said Jamie Siminoff, Latch’s incoming CEO.
  • “Marks USA locks integrated with Latch’s technology should streamline new and retrofit installations moving forward and help expand Latch’s footprint in new market segments.
  • In addition to managing the installation process, Protection Technologies was instrumental in the design, servicing, and support for this project.

Latch Announces New Simplified Subscription Bundles

Retrieved on: 
Wednesday, May 24, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230524005482/en/
    Latch announced a new, simplified pricing structure to enable a variety of building owners to select the best option for partnering with Latch to meet the needs of their tenants and building operators.
  • Simplifying pricing and decreasing the friction for buildings to convert to Latch spaces further aligns the company with this mission.
  • Enterprise ($12.50 per space per month): The complete full-building Latch ecosystem solution with integrations, SDKs, and premium success and support.
  • To learn more about Latch’s new bundles and to partner with Latch, visit www.latch.com/bundles or email incoming CEO Jamie Siminoff directly at [email protected].

Latch receives anticipated notice of additional Nasdaq non-compliance

Retrieved on: 
Friday, May 19, 2023

The Company presented its plan to regain compliance with the Listing Rule (the “Compliance Plan”) at a March 23, 2023 hearing before the Panel.

Key Points: 
  • The Company presented its plan to regain compliance with the Listing Rule (the “Compliance Plan”) at a March 23, 2023 hearing before the Panel.
  • The Additional Notice has no immediate effect on the listing or trading of the Company’s securities on Nasdaq.
  • However, if the Company fails to regain compliance with the Listing Rule by August 4, 2023, the Company’s securities will be subject to delisting from Nasdaq.
  • There can be no assurances that the Company will be able to file the Annual Report, the 2022 Quarterly Reports, and the First Quarter 2023 Report on or before August 4, 2023.

Latch to Acquire Ring Founder Jamie Siminoff’s Latest Company, Honest Day’s Work

Retrieved on: 
Tuesday, May 16, 2023

Jason Keyes, Latch Interim CEO, said: “We are pleased to join forces with Jamie and his team as we continue on our current path of driving operational performance and sustainable growth.

Key Points: 
  • Jason Keyes, Latch Interim CEO, said: “We are pleased to join forces with Jamie and his team as we continue on our current path of driving operational performance and sustainable growth.
  • I look forward to combining Honest Day’s Work with Latch to build a residential ecosystem that empowers building owners, operators, service providers, and residents alike.”
    “We are excited to welcome Jamie and the HDW team,” said Andrew Sugrue of the Latch board of directors.
  • 30 Honest Day’s Work team members are expected to join Latch post-transaction.
  • The transaction is expected to close at the beginning of the third quarter of 2023, subject to customary closing conditions.

Latch receives extension from Nasdaq Hearings Panel, additional notification of non-compliance

Retrieved on: 
Tuesday, April 11, 2023

The Company also previously disclosed that it presented a plan to regain compliance (the “Compliance Plan”) with the Listing Rule at a March 23, 2023 hearing before the Panel.

Key Points: 
  • The Company also previously disclosed that it presented a plan to regain compliance (the “Compliance Plan”) with the Listing Rule at a March 23, 2023 hearing before the Panel.
  • The April Notice has no immediate effect on the listing or trading of the Company’s shares of common stock or warrants.
  • However, if the Company fails to regain compliance with the Listing Rule by August 4, 2023, the Company’s shares of common stock and warrants will be subject to delisting from Nasdaq.
  • There can be no assurances that the Company will be able to file the Annual Report, the Delinquent Quarterly Reports, and the First Quarter 2023 Report on or before August 4, 2023.

Latch provides update on SVB accounts and cash position

Retrieved on: 
Monday, March 13, 2023

As of March 8, 2023, the Company had deposits in various accounts with SVB of approximately $3.1 million (a portion of which the Company believes is insured by the FDIC), which represents less than 2% of the Company’s total cash and cash equivalents and current and non-current available-for-sale securities.

Key Points: 
  • As of March 8, 2023, the Company had deposits in various accounts with SVB of approximately $3.1 million (a portion of which the Company believes is insured by the FDIC), which represents less than 2% of the Company’s total cash and cash equivalents and current and non-current available-for-sale securities.
  • The Company is also aware that the FDIC has been appointed receiver of Signature Bank.
  • The Company’s total cash and cash equivalents and current and non-current available-for-sale securities as of March 8, 2023, was approximately $215.4 million.
  • Bank”) and for which SVB Asset Management (a registered investment advisor and non-bank affiliate of SVB) has provided investment management services.

Latch announces receipt of extended Nasdaq stay

Retrieved on: 
Wednesday, March 1, 2023

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (Nasdaq: LTCH) (the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that on February 28, 2023, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 23, 2023, and a final determination regarding the Company’s listing status.

Key Points: 
  • NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (Nasdaq: LTCH) (the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that on February 28, 2023, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 23, 2023, and a final determination regarding the Company’s listing status.
  • As disclosed on February 13, 2023, the Company intended to appeal a determination by the Nasdaq Listing Qualifications Department to delist the Company’s securities due to the Company’s failure to timely file its Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2022, and September 30, 2022, with the Securities and Exchange Commission.
  • On February 14, 2023, the Company timely requested a hearing before the Panel and requested that the automatic stay of suspension be extended through the completion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.

Latch Announces Receipt of Expected Nasdaq Delisting Determination, Plans to Request Appeal by February 14

Retrieved on: 
Monday, February 13, 2023

The Company’s request for a hearing before the Hearings Panel (the “Request”) to appeal the Staff Determination must be made no later than 4:00 p.m. Eastern Time on February 14, 2023.

Key Points: 
  • The Company’s request for a hearing before the Hearings Panel (the “Request”) to appeal the Staff Determination must be made no later than 4:00 p.m. Eastern Time on February 14, 2023.
  • In connection with the Request, the Company also intends to request that the Staff Determination be further stayed pending the hearing process.
  • According to the Staff Determination, hearings are typically scheduled to occur approximately 30-45 days after the date of a company’s hearing request.
  • Following the hearing, the Hearings Panel will issue a decision, which the Company may further appeal to the Nasdaq Listing Council for review.

Latch, Inc. Shareholder News: Robbins LLP Informs Investors of Latch, Inc. (LTCH) f/k/a TS Innovation Acquisitions Corp. (TSIA) of Newly Filed Class Action Lawsuit

Retrieved on: 
Friday, January 13, 2023

The Class: Shareholder rights law firm Robbins LLP informs investors of a class action on behalf of Legacy Latch shareholders who acquired publicly traded securities of Latch, Inc. (NASDAQ: LTCH) through its June 4, 2021 merger.

Key Points: 
  • The Class: Shareholder rights law firm Robbins LLP informs investors of a class action on behalf of Legacy Latch shareholders who acquired publicly traded securities of Latch, Inc. (NASDAQ: LTCH) through its June 4, 2021 merger.
  • Latch is an enterprise technology company that offers a full-building operating system, LatchOS, to address the essential requirements of modern buildings.
  • What is this Case About: Latch, Inc. (LTCH) f/k/a TS Innovation Acquisitions Corp.
  • Next Steps: If you acquired shares of Latch, Inc. (LTCH) prior to its merger with TSIA contact us for information about your legal options.

Latch Announces Executive Leadership Changes

Retrieved on: 
Wednesday, January 11, 2023

NEW YORK, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (NASDAQ: LTCH) (“Latch” or the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that its Board of Directors (the “Board”) has appointed Jason Keyes as interim Chief Executive Officer and Marc Landy as interim Chief Financial Officer.

Key Points: 
  • NEW YORK, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (NASDAQ: LTCH) (“Latch” or the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that its Board of Directors (the “Board”) has appointed Jason Keyes as interim Chief Executive Officer and Marc Landy as interim Chief Financial Officer.
  • Latch also announced the resignations of Luke Schoenfelder as the Company’s Chief Executive Officer and Chairman of the Board, as well as interim Chief Financial Officer Barry Schaeffer and Chief Accounting Officer Junji Nakamura.
  • Mr. Schoenfelder said, “From co-founding Latch at my kitchen table to leading it to its current scale, I am enormously proud of the products we’ve delivered for customers, and I am excited to continue to support Latch’s new leadership team as a proud stockholder and advisor going forward."
  • The Board also thanks Barry and Junji for their thoughtful leadership and their many contributions to Latch’s growth.