TS Innovation Acquisitions Corp. (NASDAQ:TSIA) announced in a press release this afternoon that its shareholders approved its combination with Latch at a special meeting earlier today.
Approximately 69% of shares participated in the meeting and 98% of these approved the business combination with Latch. The parties expect the transaction to close tomorrow June 4 with shares and warrants of the combined entity set to begin trading on the Nasdaq on June 7 under the symbols “LTCH” and “LTCHW”, respectively.
The release did not divulge redemption figures, but they were unlikely to have been high given that TS Innovation opened the day of its June 1 at $10.60, well above its pro rata trust value of $10.00.
TS Innovation and Latch initially announced their $1.05 billion deal on January 25. Latch provides software-as-a-service (SaaS) products for tenants and guests at hotels and buildings controlling connectivity, comfort and access.
ADVISORS
- Goldman Sachs is acting as exclusive financial advisor to Latch and acted as joint placement agent on the PIPE.
- Latham & Watkins LLP is acting as legal advisor to Latch. Allen & Company LLC and BofA Securities are acting as joint financial advisors to TSIA and also acted as joint lead placement agents on the PIPE.
- Sullivan & Cromwell is acting as legal advisor to TSIA
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...