Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 442

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 3
Chunk 442
---
,556,250

    -

    Sale of units in initial public offering

    201,250,000

    -

    Payment of offering costs, net of reimbursement from underwriter, associated with initial public offering

    (3,116,506
    )

    -

    Net cash provided by financing activities
     
    $
    203,715,244

    $
    -

    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