Latch, Inc. (NasdaqGS:LTCH) entered into an Agreement and Plan of Merger to acquire Honest Day's Work, Inc. for $44.5 million on May 15, 2023. As per the terms of the transaction, the Company will issue to HDW?s stockholders as merger consideration (i) $22 million aggregate principal amount of unsecured promissory notes (the ?Promissory Notes?) and (ii) expected to join Latch post-transaction and Jamie Siminoff is expected to become Chief Executive Officer of Latch later in 2023. The completion of the transactions is subject to customary closing conditions, including the effectiveness of the Jamie Siminoff approximately 29 million shares of the Company?s common stock (the ?Shares?). In the event any of HDW?s stockholders are not eligible to receive unregistered shares of the Company?s common stock, such stockholders will receive $0.76 in lieu of each Share such stockholder would otherwise receive as merger consideration. The Shares shall be non-transferable until the fifth anniversary of the closing of the Mergers (the ?Closing Date?) (the ?Restricted Period?), subject to certain accelerated releases. 30 Honest Day?s Work team members are Employment Agreement and the Jamie Siminoff Stock Restriction Agreement. The board of directors of both HDW and Latch has approved the deal. The deal is scheduled to occur on July 3, 2023. Joshua Zachariah, John Casnocha, Bradley C. Weber, Bryan Quinn, Kevin V. Lam, Jacqueline Klosek, Lynda T. Galligan, Monica Patel, April Sun, Andrew Lacy, Ora Grinberg, Jacob R. Osborn, Anne Bandes, J. Scott Zilora, Zoe Li and Justin Smith of Goodwin Procter LLP acted as legal advisors to HDW while Nick S. Dhesi and Ryan J. Maierson of Latham & Watkins LLP acted as legal advisors to Latch.

Latch, Inc. (NasdaqGS:LTCH) completed the acquisition of Honest Day's Work, Inc. on July 3, 2023.