Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 564

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 5
Chunk 564
---
 -

    Net change in cash

    1,625,752

    -

    Cash at beginning of period

    -

    -

    Cash at end of period
     
    $
    1,625,752

    $
    -

    Supplemental disclosure of non-cash financing activities:

    Deferred underwriting commissions
     
    $
    7,043,750

    $
    -

    Accretion of carrying value to redemption value
     
    $
    20,184,286

    $
    -

    Deferred offering costs paid by Sponsor in exchange for issuance of founder shares
     
    $
    25,000

    $
    -

    Formation costs paid by insider for the the issuance of Founder Shares

    - 
      
    $25,000 
  
    Issuance of Representative Founder Shares (Note 7)

    - 
      
    $500 
  
    Deferred offering costs included in accrued offering costs

    - 
      
    $3,238 
  
    Notes payable-related party paid for legal expenses

    - 
      
    $12,500 

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

  F-6 

LEGATO MERGER CORP. III

NOTES TO  FINANCIAL STATEMENTS

NOVEMBER 30, 2024

Note 1 — Organization and Plan of Business Operations

Legato Merger Corp. III (the “Company”) was incorporated as an exempted company in the Cayman Islands on November 6, 2023 with the objective to acquire, through a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination, one or more businesses or entities (a “Business Combination”).

The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination, although it has focused its search on target businesses in the infrastructure, engineering and construction, industrial and renewables industries. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

At November 30, 2024, the Company had not yet commenced any operations. All activity through November 30, 2024 relates to the Company’s formation, the public offering described below and the search for a target business with which to consummate a Business Combination.

The registration statement for the Company’s