TS Innovation Acquisitions gains on $1.6 bln deal to take Latch public

Latch

25/01/2021 14:52

** Blank-check company's shares  TSIA.O  surge 7% to $17.66
    ** Smart-lock maker Latch Inc says it plans to go public
through a merger with TSIA, backed by U.S. property developer
Tishman Speyer, in a deal that values Latch at $1.56 bln
 urn:newsml:reuters.com:*:nL4N2K02P6
    ** Special purpose acquisition companies have emerged as a
popular route for companies seeking to go public with less
regulatory scrutiny and more certainty about valuation
    ** TS Innovation raised $300 mln in its IPO last year
    ** Stock set for biggest one day gain, up 84% this month

 (Reporting by Susan Mathew in Bengaluru)
 ((susan.mathew@thomsonreuters.com; +91-80-6287-2704))