Latch announces receipt of extended Nasdaq stay
Latch, Inc. (Nasdaq: LTCH) announced that the Nasdaq Hearings Panel has granted its request for an extension of the automatic stay of suspension. This decision follows a notification from Nasdaq regarding potential delisting due to the company's failure to file Quarterly Reports on Form 10-Q for the periods ended June 30, 2022, and September 30, 2022. The hearing before the Panel is scheduled for March 23, 2023, where a final determination on the company's listing status will be made.
- The Nasdaq Hearings Panel granted an extension of the stay of suspension.
- The company has the opportunity to present its case at the hearing on March 23, 2023.
- Failure to timely file Quarterly Reports may lead to potential delisting.
- Pending hearings and uncertainty about listing status could negatively impact investor confidence.
NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Latch, Inc. (Nasdaq: LTCH) (the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that on February 28, 2023, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 23, 2023, and a final determination regarding the Company’s listing status.
As disclosed on February 13, 2023, the Company intended to appeal a determination by the Nasdaq Listing Qualifications Department to delist the Company’s securities due to the Company’s failure to timely file its Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2022, and September 30, 2022, with the Securities and Exchange Commission. On February 14, 2023, the Company timely requested a hearing before the Panel and requested that the automatic stay of suspension be extended through the completion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.
About Latch, Inc.
Latch makes spaces better places to live, work, and visit through a system of software, devices, and services. For more information, please visit https://www.latch.com.
CONTACTS:
Investors:
investors@latch.com
Media:
press@latch.com
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