Company: LEGT
Filing Date: 2025-04-11
Form Type: 10-Q
Source: 0001829126-25-002582
Chunk: 2

Company: Legato Merger Corp. III
Filing Date: 2025-04-11
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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    (4,530,891
    )
     
    $
    (4,530,323
    )

The accompanying notes are an integral part of these unaudited condensed financial statements.

3

LEGATO MERGER CORP. III UNAUDITED CONDENSED STATEMENT OF CASH FLOWS

        For the Three Months Ended
February 28,
2025

        For the
        Three Months Ended February 29, 2024

    Cash flows from operating activities

    Net income
     
    $
    1,942,553

    $
    2,039,570

    Adjustments to reconcile net income to net cash used in operating activities:

    Income from investments held in Trust Account

    (2,239,938
    )

    (565,350
    )
  
    Changes in operating assets and liabilities:

    Prepaid expense

    48,633

    (363,394
    )
  
    Net cash used in operating activities
     
    $
    (248,752
    )
     
    $
    1,110,826

    Cash flows from investing activities

    Cash deposited into trust account

    -

    (201,250,000
    )
  
    Net cash used in investing activities
     
    $
    -

    $
    (201,250,000
    )

    Cash flows from financing activities

    Note payable - related party

    -

    (146,785
    )
  
    Repayment of note payable related party

    -

    146,785

    Issuance of ordinary shares to initial shareholders

    -

    25,000

    Issuance of representative shares

    -

    588

    Proceeds from private placement units

    -

    5,556,250

    Sale of units in initial public offering

    -

    201,250,000

    Payment of offering costs associated with initial public offerings

    -

    (4,625,455
    )
  
    Net cash provided by financing activities
     
    $
    -

    $
    202,206,383

    Net change in cash
     
    $
    (248,752
    )
     
    $
    2,067,209

    Cash at beginning of period
     
    $
    1,625,752

    $
    -

    Cash at end of period
     
    $
    1