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

Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001826000-23-000085
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nasdaq to suspend Latch trading Aug 10, delist due to filing failures; restatement ongoing
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000085/0001826000-23-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600023000085/lat-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001826000-23-000085

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