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 Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...