
SPAC Stockholders Approve Business Combination with Latch
The stockholders of TS Innovation Acquisitions Corp, a special purpose acquisition company sponsored by a Tishman Speyer affiliate, have approved the business combination with SaaS firm Latch, Inc. The combined company is expected to begin trading on Nasdaq on June 7.
Latch expects to receive $453 million in cash in conjunction with the closing of the business combination, which will be used to fund growth initiatives, including increasing the number of units on its platform, spreading to new geographies and expanding to additional asset classes.
“Our vision, from day one, has been to leverage Tishman Speyer’s global real estate platform and investment expertise in support of an innovative technology company poised for exponential growth,” said TSIA CEO Rob Speyer, who also serves as Tishman Speyer’s president and CEO. “We are grateful to our stockholders for sharing our confidence in Latch’s exceptional leadership team and differentiated business model.”