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Latch Receives Expected Nasdaq Delisting Determination

Retrieved on:

Wednesday, August 9, 2023

Commercial Building & Real Estate, Technology, Mobile, Wireless, Construction & Property, Security, Other Technology, Hardware, Residential Building & Real Estate, Consumer Electronics, OTC, Growth, Panel, Sale, LTCH, Bank statement, Latch

Latch, Inc. (NASDAQ: LTCH) today announced it received an expected notice from the hearings panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Panel has determined to suspend trading of the company’s securities on August 10, 2023 and commence delisting procedures because of the company’s failure to meet the August 4, 2023 deadline to regain compliance with its periodic filing obligations.

Key Points:

Latch, Inc. (NASDAQ: LTCH) today announced it received an expected notice from the hearings panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Panel has determined to suspend trading of the company’s securities on August 10, 2023 and commence delisting procedures because of the company’s failure to meet the August 4, 2023 deadline to regain compliance with its periodic filing obligations.
Once the suspension takes effect, Latch expects that its securities will be traded on the OTC Expert Market.
The company was unable to meet the deadline due to unexpected delays in the ongoing restatement of its historical financial statements.
Jamie Siminoff and Dave Lillis are expected to be appointed as the company’s Chief Executive Officer and Chief Financial Officer, respectively, later this year.

Latch Notifies Nasdaq That It Does Not Anticipate Meeting Delinquent Filing Deadline

Retrieved on:

Tuesday, August 1, 2023

Commercial Building & Real Estate, Mobile, Wireless, Technology, Construction & Property, Security, Other Technology, Software, Hardware, Consumer Electronics, Residential Building & Real Estate, Growth, OTC, Sale, LTCH, Bank statement, Pharmaceutical industry, Latch

Latch, Inc. (NASDAQ: LTCH) today announced it has notified the hearings panel of The Nasdaq Stock Market LLC (“Nasdaq”) that the company does not anticipate regaining compliance with its periodic filing obligations on or before its August 4, 2023 deadline due to unexpected delays in the ongoing restatement of its historical financial statements.

Key Points:

Latch, Inc. (NASDAQ: LTCH) today announced it has notified the hearings panel of The Nasdaq Stock Market LLC (“Nasdaq”) that the company does not anticipate regaining compliance with its periodic filing obligations on or before its August 4, 2023 deadline due to unexpected delays in the ongoing restatement of its historical financial statements.
As a result, Latch expects Nasdaq to issue a delisting determination, causing the company’s securities to be suspended from trading on Nasdaq.
Once the suspension takes effect, Latch expects that its securities will be traded on the OTC Expert Market.
The transition to the OTC markets will not change Latch’s commitment to enhancing operational discipline and efficiency within the organization.

Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth

Retrieved on:

Monday, July 10, 2023

As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023.

Key Points:

As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023.
The goal of these strategic measures is to create a scalable foundation for growth.
As Latch leverages a more efficient, remote global workforce, new U.S.-based roles that are most effective when co-located together will be based in St. Louis.
Discipline and efficiency are not only expected to save Latch millions of dollars but should also accelerate and simplify processes, both internally and externally.

Latch Completes Acquisition of Honest Day’s Work

Retrieved on:

Monday, July 3, 2023

Commercial Building & Real Estate, Technology, Mobile, Wireless, Construction & Property, Security, Other Technology, Hardware, Residential Building & Real Estate, Consumer Electronics, HDW, LTCH, Ring, Acquisition, Work, Cryptocurrency, Latch

Latch, Inc. (NASDAQ: LTCH) today announced that it has completed the previously announced acquisition of Honest Day’s Work (“HDW”), Ring founder Jamie Siminoff’s latest company dedicated to enabling residential service providers, such as housekeepers, dog walkers, and drivers, to operate more efficiently, profitably, and independently through technology.

Key Points:

Latch, Inc. (NASDAQ: LTCH) today announced that it has completed the previously announced acquisition of Honest Day’s Work (“HDW”), Ring founder Jamie Siminoff’s latest company dedicated to enabling residential service providers, such as housekeepers, dog walkers, and drivers, to operate more efficiently, profitably, and independently through technology.
Upon the closing of the acquisition, Latch acquired all of HDW’s assets, including its intellectual property and $8.0 million in cash.
Additionally, approximately 30 HDW team members joined Latch.
The acquisition integrates the two companies’ teams, resources, and know-how to advance Latch’s mission of making spaces better places to live, work, and visit, while further advancing HDW’s capabilities.

Latch regains compliance with Nasdaq minimum bid price requirement

Retrieved on:

Thursday, June 15, 2023

Latch, LTCH, Notice, Annual report, Security (finance), Auction, Cryptocurrency

NEW YORK, June 15, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (NASDAQ: LTCH) (the “Company”) today announced that on June 15, 2023, the Company received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) for continued listing on Nasdaq.

Key Points:

NEW YORK, June 15, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (NASDAQ: LTCH) (the “Company”) today announced that on June 15, 2023, the Company received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) for continued listing on Nasdaq.
In order to regain compliance with the Minimum Bid Price Requirement, the Company’s common stock was required to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days.
The Minimum Bid Price Requirement was met on June 14, 2023.
There can be no assurance, however, that the Company will be able to maintain compliance with the Minimum Bid Price Requirement in the future.

Latch Announces New Head of Sales and Expands Integrations for Streamlined Property Management at NAA Apartmentalize 2023

Retrieved on:

Wednesday, June 7, 2023

Networks, Residential Building & Real Estate, Technology, Construction & Property, Software, Software as a service, LTCH, Peckham, Multimedia, NAA, Organization, Property management, PMS, AppFolio, Growth, Honesty, Video game, Latch

Today at NAA Apartmentalize 2023 , Latch, Inc. (NASDAQ: LTCH) announced Chris Peckham as its new Head of Sales.

Key Points:

Today at NAA Apartmentalize 2023 , Latch, Inc. (NASDAQ: LTCH) announced Chris Peckham as its new Head of Sales.
“Latch’s growing list of integrations is unlocking more resident benefits and making property management even more streamlined for our customers,” added Siminoff.
To connect with Latch at NAA Apartmentalize and learn more about Latch’s latest offerings and integrations, click here .
To learn more about Latch or to partner with Latch, visit www.latch.com or email incoming CEO Jamie Siminoff directly at [email protected] .

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

View the full release here: https://www.businesswire.com/news/home/20230524005482/en/

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

Software as a service, LTCH, Latcho Drom, Bank statement, Listing Rules, Panel, Notice, Annual report, Hearing, Staff, Security (finance), Cryptocurrency

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.