secwatch.observer — SEC 8-K summary
======================================

Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001826000-23-000082
Event type: regulatory
Sentiment:  negative
Materiality: 0.90
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latch expects Nasdaq delisting after missing filing deadline; plans OTC trading
-------------------------------------------------------------------------------

- Latch notified Nasdaq it cannot file delinquent reports by Aug 4, 2023 deadline due to restatement delays.
- Expects Nasdaq delisting and suspension; securities to trade on OTC Expert Market.
- Cash and equivalents plus available-for-sale securities ~$192M as of July 31, 2023.
- Commenced 59% workforce reduction (full-time employees) expected to complete by Nov 1, 2023.
- Jamie Siminoff and Dave Lillis expected as CEO and CFO later in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000082/0001826000-23-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000082/lat-20230731.htm
  HTML page:      https://secwatch.observer/filing/0001826000-23-000082

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer