The Technology M&A team advised Honest Day’s Work in its entry into a definitive agreement to be acquired by Latch, Inc. (NASDAQ: LTCH). Latch will acquire 100% of the capital stock of Honest Day’s Work in exchange for approximately 29.0 million shares of Latch’s common stock, subject to certain time-based and stock performance-based transfer restrictions, and $22.0 million aggregate principal amount of unsecured promissory notes. The transaction is expected to close at the beginning of the third quarter of 2023, subject to customary closing conditions.
Honest Day’s Work is Ring founder Jamie Siminoff’s latest company dedicated to enabling residential service providers, such as housekeepers, dog walkers, and drivers, to operate more efficiently, profitably, and independently through technology. Mr. Siminoff is expected to become CEO of Latch later in 2023. Goodwin has represented Honest Day’s Work since its incorporation.
The Goodwin team was led by John Casnocha, Josh Zachariah, Justin Smith, Conner Pine, Jesse Kalashyan, Hilarie Sexton and Daisy Beckner (Corporate / M&A); Brad Weber, Bryan Quinn and Kevin Lam, Ben Horwitz, Jinny Kim (Intellectual Property); Jackie Klosek and Alex Intile (Privacy); Lynda Galligan, Monica Patel, Andre Amorim, and Zoe Li (Executive Compensation and Benefits); April Sun (Labor & Employment); Andrew Lacy, Kevin Walsh (Antitrust); Ora Grinberg, Aime Salazar and Garret Gaughan (Tax); Jacob Osborn, Anne Bandes (Debt Finance) with assistance from Scott Zilora (financial analysis) and Christina Keeney (paralegal).
For additional details on the acquisition, please read the press release.