Tishman Speyer-backed SPAC to take smart-lock maker Latch public in $1.6 bln deal


Jan 25 (Reuters) – Latch Inc said on Monday it plans to go public through a merger with blank-check company TS Innovation Acquisitions Corp, backed by U.S. property developer Tishman Speyer, in a deal that values the smart-lock maker at $1.56 billion.
Under the deal, Latch will receive around $510 million in cash, including $190 million from investors such as Chamath Palihapitiya, BlackRock Inc, D1 Capital Partners and Fidelity Management & Research Company LLC.
Shares of TS Innovation, which raised $300 million in its November IPO, jumped nearly 75% in premarket trading following the ann