Latch, Inc. (LTCH): Nasdaq/NYSE listing notice — Nasdaq to suspend Latch trading Aug 10, delist due to filing failures; restatement ongoing

Latch, Inc.

Nasdaq Panel determined to suspend trading Aug 10, 2023 and commence delisting for failure to comply with periodic filing rule.
Latch expects securities to trade on OTC Expert Market after suspension; restatement of historical financials for 2019-2021 and Q1 2022 ongoing.
Total cash and securities approx. $192M as of July 31, 2023; company reducing workforce by 59% (expected completion by Nov 1, 2023).
Jamie Siminoff and Dave Lillis expected to be appointed CEO and CFO later this year, respectively.

item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Latch, Inc. received a nasdaq delisting notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

August 8, 2023, the Company received a notice from the Panel stating that it has determined to suspend trading of the Company’s securities on August 10, 2023 and commence delisting procedures because of the Company’s failure to regain compliance with the Listing Rule by the Deadline. Following the suspension of trading in the Company’s securities on Nasdaq, the Company expects that its securities will be traded on the OTC Expert Market. The Company had previously received notices from Nasdaq (i) on August 11, 2022, November 14, 2022 and May 16, 2023 regarding the Company’s failure to file its

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Latch, Inc. filing history →

Source: SEC EDGAR

accession 0001826000-23-000085

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