Latch gets Nasdaq delisting determination, plans appeal request by Feb.14

Latch announced that on February 7 it received a Staff Delisting Determination from the Listing Qualifications Department of The Nasdaq Stock Marke notifying the Company that Nasdaq has initiated a process that could result in the delisting of the Company’s securities from Nasdaq as a result of the Company not being in compliance with Nasdaq Listing Rule 5250(c)(1) , which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission . The Staff Determination has no immediate effect and will not immediately result in the suspension of trading or delisting of the Company’s shares of common stock or warrants.The Company intends to appeal the Staff Determination before a Nasdaq Hearings Panel and seek a further stay of any suspension or delisting action pending the hearing process in accordance with the procedures set forth in the Staff Determination.