TS Innovation Acquisitions Corp. (NASDAQ:TSIA) announced in a press release this afternoon that its shareholders approved its combination with Latch at a special meeting earlier today.
Approximately 69% of shares participated in the meeting and 98% of these approved the business combination with Latch. The parties expect the transaction to close tomorrow June 4 with shares and warrants of the combined entity set to begin trading on the Nasdaq on June 7 under the symbols “LTCH” and “LTCHW”, respectively.
The release did not divulge redemption figures, but they were unlikely to have been high given that TS Innovation opened the day of its June 1 at $10.60, well above its pro rata trust value of $10.00.
TS Innovation and Latch initially announced their $1.05 billion deal on January 25. Latch provides software-as-a-service (SaaS) products for tenants and guests at hotels and buildings controlling connectivity, comfort and access.
ADVISORS
- Goldman Sachs is acting as exclusive financial advisor to Latch and acted as joint placement agent on the PIPE.
- Latham & Watkins LLP is acting as legal advisor to Latch. Allen & Company LLC and BofA Securities are acting as joint financial advisors to TSIA and also acted as joint lead placement agents on the PIPE.
- Sullivan & Cromwell is acting as legal advisor to TSIA
At the SPAC of Dawn Following Wednesday’s positive CPI readings, the market is set to ingest both new jobless claims and Core PPI inflation numbers at 8:30 am ET. It might take a particularly rosy result to offset the many factors of market volatility recent. One new one got added to the bingo card this...
One of the eternal questions surrounding SPACs has been their ability or inability to match the opportunity and the performance of the traditional IPO route, and it has become received wisdom on Wall Street that SPACs don’t match up. This is ostensibly born out in in the aggregate statistics that are frequently cited. But, downside...
At the SPAC of Dawn Despite the specter of recession looming, many of the hot technology sectors that SPACs favored during the boom times appear to be coming back on the menu. Ares II (NYSE:AACT) is reportedly angling to lock down a deal with an autonomous trucking firm. Northern Genesis II and Reinvent Y each...
Cantor Equity Partners II (NASDAQ:CEPT) filed another warrantless SPAC showing that the firm will not be slowing down despite Cantor CEO Howard Lutnick moving his attentions to the administration. The new $200 million SPAC would join Cantor Equity Partners I (NASDAQ:CEPO), which became the first SPAC to IPO this year and Cantor Equity Partners (NASDAQ:CEP),...
At the SPAC of Dawn US market futures continue to be flash dark red after a major down day saw SPAC-favorite exchange Nasdaq lose about -4% of its value leaving it running down -9.5% on the year. The sudden downturn has been somewhat personal for the administration as Trump Media (NASDAQ:DJT) itself fell about -11.5%...