TS Innovation Acquisitions stockholders approved its business combination with Latch, maker of the enterprise software-as-a-service (SaaS) platform LatchOS.
At a special meeting of TSIA stockholders 98% of the votes cast approved the deal, which values Latch at $1.56 billion post-money.
Following an expected closing today, the combined company’s common stock and warrants will be listed on the Nasdaq under LTCH and LTCHW on June 7. Latch expects to receive $453 million in cash, net of fees and expenses to be funded in conjunction with the closing of the business combination, which includes $190 million from a previously-announced PIPE. Read more.
