---
schema_version: "secwatch.filing_event.v1"
accession: "0001826000-23-000056"
form_type: "8-K"
ticker: "LTCH"
cik: "0001826000"
company_name: "Latch, Inc."
filed_at: "2023-05-16T23:59:59+00:00"
generated_at: "2026-06-14T23:58:18.494034+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Latch acquires Honest Day's Work; Jamie Siminoff to become CEO later in 2023

## Summary
- Consideration: ~29.0M shares of common stock and $22.0M unsecured promissory notes.
- Jamie Siminoff expected to serve as CSO initially, then CEO later in 2023.
- Transaction expected to close early Q3 2023 subject to customary conditions.
- Shares are non-transferable for up to 5 years with performance-based release at $2-$5 thresholds.
- Promissory notes bear 10% PIK interest, mature in 2 years, prepayable; accrue on events of default.

## SEC filing metadata
- accession: 0001826000-23-000056
- form_type: 8-K
- ticker: LTCH
- cik: 0001826000
- company_name: Latch, Inc.
- filed_at: 2023-05-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826000/000182600023000056/0001826000-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826000/000182600023000056/lat-20230515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001826000-23-000056
- JSON: https://secwatch.observer/filing/0001826000-23-000056.json
- Plain text: https://secwatch.observer/filing/0001826000-23-000056.txt

## Key facts
- Debt Financings
  Latch, Inc. incurred loan of $22.0 million aggregate principal amount at 10% per annum maturing two-year maturity.
  - Instrument: loan
  - Principal: $22.0 million aggregate principal amount
  - Rate: 10% per annum
  - Maturity: two-year maturity
  - Event: incurrence
  source text: the Company (together with the First Merger, the “Mergers”). At the effective time of the First Merger, the Company will issue to HDW’s stockholders as merger consideration (i) $22.0 million aggregate principal amount of unsecured promissory notes (the “Promissory Notes”) and (ii) approximately 29.0 million shares of the Company’s common stock (the “Shares”). In the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826000/000182600023000056/0001826000-23-000056-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.