Company: LEGT
Filing Date: 2025-10-07
Form Type: 10-Q
Source: 0001829126-25-007942
Chunk: 27

Company: Legato Merger Corp. III
Filing Date: 2025-10-07
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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SEC”). The Company’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Overview

We were 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”). We intend to effectuate our Business Combination using cash from the proceeds of the Initial Public Offering and the sale of the Private Units, our capital shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs in connection with closing our initial Business Combination. We cannot assure you that our plans to raise capital or to complete our initial Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor generated any revenues to date. Our only activities through August 31, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering and searching for a target business for our initial Business Combination and entering into the Merger Agreement. We do not expect to generate any operating revenues until after the completion of our Business Combination, at the earliest. We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

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For the three and nine months ended August 31, 2025, we had a net income of $1,999,385 and $6,052,032, which consisted of interest income of $2,268,449 and $6,796,772 (for the three months ended August 31, 2025 $2,260,109 interest income from the trust account and $8,340 interest income from the operating account and for the nine months ended August 31, 2025, $6,744,927 interest income from the trust account and $51,845 interest income from the operating account), offset by operating expenses of $269,064 and $744,740, respectively.

For the three and nine months ended August 31, 2024, we had a net income