TS Innovation Acquisitions Corp. (TSIAU) shares are spiking on Monday morning trade as the company announced a definitive merger agreement with Latch, Inc. that will result in Latch becoming a publicly listed company.
Currently, shares are at $19.48, up 71.28 percent from the previous close of $11.37 on 985,536. The shares have traded in a range of $9.90-$21.75 on average volume of 182,772.
The transaction values the Company at an equity value of $1.56 billion post-money. Upon closing, Latch's common stock is expected to trade on NASDAQ under the ticker symbol "LTCH".
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