January 25, 2021
Latch, Inc. (Latch or the Company), maker of the full-building enterprise software-as-a-service (SaaS) platform LatchOS, and TS Innovation Acquisitions Corp., a publicly traded special purpose acquisition company launched by leading real estate owner, developer, operator, and investment manager Tishman Speyer Properties, L.P., have announced that they have entered into a definitive merger agreement that will result in Latch becoming a publicly listed company. The transaction values the Company at an equity value of US$1.56 billion post-money. Upon closing, Latch’s common stock is expected to trade on NASDAQ under the ticker symbol LTCH.
Latham & Watkins LLP represents Latch in the transaction with a corporate deal team led by New York partner Marc Jaffe and Houston partners Ryan Maierson and Nick Dhesi, with Orange County associate Nima Movahedi and Houston associates Clayton Heery, Erin Lee, Austin Sheehy, and Ziyad Barghouthy. Advice was also provided on tax matters by New York partner Lisa Watts, with New York associate Alan Kimball; on data privacy matters by Bay Area counsel Heather Deixler; on antitrust matters by Washington, D.C. partner Jason Cruise; on real estate matters by Chicago partner Rachel Bates; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.