secwatch.observer — SEC 8-K summary
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Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001826000-23-000031
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latch reports ~$3.1M SVB deposits (<2% of cash); total cash $215.4M; no material loss expected
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- Deposits with SVB of ~$3.1M as of March 8, 2023, representing less than 2% of total cash and securities.
- Total cash, equivalents, and available-for-sale securities ~$215.4M; $61.4M in U.S. Bank custodian account managed by SVB Asset Management.
- Company has initiated replacement of SVB Asset Management as investment manager and does not expect a material loss.
- FDIC guarantees full access to SVB deposits starting March 13; Latch intends to transfer funds to a money center bank.
- No deposits with Signature Bank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000031/0001826000-23-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000031/lat-20230313.htm
  HTML page:      https://secwatch.observer/filing/0001826000-23-000031

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