M&A - Legato Merger Corp. III

Form Type: 10-Q

Filing Date: 2025-07-02

Corporate Action: Merger

Type: New

Accession Number: 000182912625004857

Filing Summary: Legato Merger Corp. III submitted its quarterly report for the period ending May 31, 2025. The company was incorporated in the Cayman Islands with a focus on acquiring businesses through mergers. As of the report date, the company has not started operations and has significant assets held in trust pending a business combination. The report reveals the issuance of 25,799,375 ordinary shares and ongoing development towards a potential merger. Financial performance shows a loss from operations but a net income derived from investments held in trust. The report also discusses shareholder redemption rights related to the anticipated merger, with shareholders allowed to redeem shares for a pro rata portion of the funds held in trust upon completion of a business combination. The document highlights the company’s commitment to leveraging the proceeds from its initial public offering to achieve a successful merger, although no target has been identified yet.