secwatch.observer — SEC 8-K summary
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Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001826000-24-000015
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Latch prepays $23.9M promissory notes after delisting default; cash post-repayment $124.4M
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- Repaid $23.9M aggregate principal and accrued interest on $22M Promissory Notes (10% PIK) issued in HDW acquisition.
- Prepayment on April 26, 2024 without penalty, after failing to agree on amendments to extend default date of May 3, 2024.
- Company had received $8M cash from the HDW acquisition; note repayment reduces cash position but avoids default.
- As of March 31, 2024, unaudited cash & securities totaled $148.3M; pro forma after repayment would be $124.4M.
- Financial statements are under restatement; these figures are incomplete and subject to revision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600024000015/0001826000-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600024000015/lat-20240426.htm
  HTML page:      https://secwatch.observer/filing/0001826000-24-000015

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