Home Financial Markets Here's why T.S. Innovation Acquisition Corp. (NASDAQ: TSIAU) stock is roaring today

Here’s why T.S. Innovation Acquisition Corp. (NASDAQ: TSIAU) stock is roaring today

T.S. Innovation Acquisition Corp. (NASDAQ: TSIAU) stock is up 43% to reach $16.26 during the regular session. The Company, with a Market Capitalization of 309.3M, has a three-monthly average volume of 186,479.

Corporate profile


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


T.S. Innovation Acquisition Corp. (NASDAQ: TSIAU), a Delaware corporation, is a company that operates as a blank-check company and is engaged in the pursuit of business combinations, including mergers, joint ventures, asset purchases, stock purchases, reorganizations, etc. Tishman Speyer Properties, L.P., which operates in 28 key markets in the United States, Europe, Asia, and Latin America, is a leading owner, developer, operator and investment manager of first-class real estate.

What Happened

A definitive merger agreement was announced between Latch, Inc. and T.S. Innovation Acquisition Corp. (NASDAQ: TSIAU). As a result of the merger agreement, Latch will become a publicly-traded company. With the closing of this transaction, Latch is valued at more than $1.56 billion in post-money equity. The common stock is expected to trade under the ticker symbol “LTCH” on NASDAQ.

The Latch was founded in 2014 and offered SaaS solutions that make spaces better places to live, work and visit. Latch has partnered with many of the country’s largest property owners and investors, including Tishman Speyer, Brookfield, and others. With Latch, one in ten new multifamily apartment complexes in the United States built in 2019 was Latch-built apartments.

Luke Schoenfelder, the co-founder, and CEO of Latch, will continue to lead the Company following the transaction. Following the transaction’s completion, Rob Speyer, CEO and Chairman of Tishman Speyer will join the Company’s board of directors.

Latch expects that it will generate approximately $510 million in cash, net of transaction fees and expenses, to fund its growth initiatives, including the expansion of its product portfolio and the development of its global network.

A unanimous vote of TSIA’s board of directors has approved the transaction. The transaction is expected to be completed in the second quarter of 2021, with approval by TSIA’s shareholders and other customary closing conditions, including any required regulatory approvals.

Summary

Stocks often surge when mergers and acquisitions occur, and today is another example of what such deals can do for the stock.

 

 

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Apple Inc. (AAPL) Stocks dip but future prospects for the company seem very positive

On Thursday, Apple shares (NASDAQ: AAPL) closed at $120.99 which is 3.5% lower. In the after-hours session, the price further declined by 0.2%.  The...

Tesla Inc. (TSLA): a Game of Thrones, Tweets and Bitcoin

Tesla Inc. (NASDAQ: TSLA) shares plunged by more than 8% when the market closed on Thursday. The news that most significantly impacted this plunge...

The Reasons Behind 30% Fall Of Tricida, Inc.’s (TCDA) Shares In Extended Trades

The drugmaker Tricida, Inc.’s (TCDA) shares experienced a fall of -29.62% in the trading after the ring of the bell on Thursday. The South...

Why Chromadex Corp. (CDXC) Remains A Gainer After Ring Of The Bell?

The biotechnology company ChromaDex Corporation (CDXC) continued the rally after ring of the bell on Thursday rising +18.68%. During the regular session price of...

ReTo Eco-Solutions Stock Drops Pre-Market Today: Why?

The manufacturer and distributor of construction material ReTo Eco-Solutions Inc. (NASDAQ: RETO) has been experiencing a fall of more than 10% in pre-market session...

What Took Gabelli Healthcare (GRX) Stock Down 18% In Pre-Market?

The Gabelli Healthcare & Wellness Trust (GRX) is sinking -18.33% in pre-market trading today following the announcement of a cash distribution by the organization...

What’s Hurting Tengasco Inc (TGC) Stock? Why Is It Down 26% Pre-Market?

Stock of oil and gas exploration firm Tengasco, Inc. (NYSE: TGC) is seeing a decline in pre-market trades today. Shares of the company were...

Apple Inc. (AAPL) Stocks dip but future prospects for the company seem very positive

On Thursday, Apple shares (NASDAQ: AAPL) closed at $120.99 which is 3.5% lower. In the after-hours session, the price further declined by 0.2%.  The...

Related News

What Took Gabelli Healthcare (GRX) Stock Down 18% In Pre-Market?

The Gabelli Healthcare & Wellness Trust (GRX) is sinking -18.33% in pre-market trading today following the announcement of a cash distribution by the organization...

In Premarket, What Has Been Causing AmeriServ Financial (ASRV) Stock To Increase 100%?

AmeriServ Financial, Inc. (NASDAQ: ASRV) has been seeing price of its share rising more than 100% in pre-market session today. The holding firm of...

You Should Read THIS Before Investing In Hut 8 Mining Corp’s Ordinary Shares (OTC: HUTMF)

Hut 8 Mining Corp - Ordinary Shares (OTC-HUTMF) stock soared by 21.74% in the last trading session, reaching $10.390. Over the last month, the...

Fluidigm Corporation (FLDM): Why The Stock Is Declining In Premarket Trading Today

Shares of Fluidigm Corporation (NASDAQ: FLDM) have been plummeting -14.10% to $6.09 in the pre-market session today. The company which provides innovative biotechnology tools...

This Is Why Recon Technology, Ltd. (RCON) Just Got Our Attention

Recon Technology, Ltd. (RCON) ended Monday 12% higher thanks to news that it has raised equity ownership in FGS to 51%. The better news...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.