Latch, Inc. To Acquire Honest Day's Work

(RTTNews) - Latch, Inc. (LTCH) has entered into a definitive agreement to acquire 100% of the capital stock of Honest Day's Work in exchange for approximately 29.0 million shares of Latch's common stock, and $22.0 million aggregate principal amount of unsecured promissory notes. Honest Day's Work is Ring founder Jamie Siminoff's latest company dedicated to enabling residential service providers.

Jamie Siminoff created Ring, a whole-home security company that was acquired by Amazon in 2018. Siminoff recently started building Honest Day's Work.

Jamie Siminoff is anticipated to become CEO of Latch later in 2023.