Latch, Inc. announced that it has entered into an subscription agreement for a private placement of 19,000,000 class A common shares at an issue price of $10 per share for gross proceeds $190,000,000 on January 24, 2021. The transaction will include participation from funds and accounts managed by BlackRock, Inc., D1 Capital Partners L.P., Durable Capital Partners, LP, Fidelity Management & Research Company LLC, ArrowMark Colorado Holdings, LLC, The Spruce House Partnership LLC, a fund managed by Spruce House Investment Management LLC, Wellington Management Group LLP, Avenir Growth Capital, Lux Capital Management, LLC, and an individual investor Chamath Palihapitiya. The transaction, which has been unanimously approved by TS Innovation Acquisitions Corp.

board of directors, is expected to close in the second quarter of 2021, and is subject to approval by TS Innovation Acquisitions Corp. shareholders and other customary closing conditions, including any applicable regulatory approvals.