Latch regains compliance with Nasdaq minimum bid price requirement
NEW YORK, June 15, 2023 (GLOBE NEWSWIRE) — Latch, Inc. (NASDAQ:LTCH) (the “Company”) today announced that on June 15, 2023, the Company received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) for continued listing on Nasdaq. In order to regain compliance with the Minimum Bid Price Requirement, the Company’s common stock was required to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days. The Minimum Bid Price Requirement was met on June 14, 2023. Accordingly, in the Notice, Nasdaq stated that the matter is now closed. There can be no assurance, however, that the Company will be able to maintain compliance with the Minimum Bid Price Requirement in the future.
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