Company: LEGT
Filing Date: 2025-07-02
Form Type: 10-Q
Source: 0001829126-25-004857
Chunk: 15

Company: Legato Merger Corp. III
Filing Date: 2025-07-02
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 Share

The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per ordinary share is computed by dividing net income applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding for the period (the public and private shares, inclusive of the full exercise of the over-allotment option). The Company has not considered the effect of the warrants sold in the Initial Public Offering and Private Placement to purchase an aggregate of 10,340,313 shares in the calculation of diluted earnings per share, since their contingency had not been met yet. Accretion associated with the ordinary shares are excluded from net income per share as the redemption value approximates fair value. As a result, diluted net income per ordinary share is the same as basic net income per ordinary share for the periods presented.

    10

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars):

For the Three and Six Months Ended May 31, 2025

    Schedule of calculation of basic and diluted net income per ordinary share

    For the Three Months Ended May 31, 2025

    For the Six Months Ended May 31, 2025

    Public Shares (basic and diluted)

    Founder Shares (basic and diluted)

    Public Shares (basic and diluted)

    Founder Shares (basic and diluted)

    Basic and diluted net income per ordinary share

    Numerator:

    Allocation of net income as adjusted
     
    $
    1,691,439

    $
    418,655

    $
    3,248,578

    $
    804,069

    Denominator:

    Basic and diluted weighted average shares outstanding

    20,680,625

    5,118,750

    20,680,625

    5,118,750

    Basic and diluted net income per ordinary share
     
    $
    0.08

    $
    0.08

    $
    0.16

    $
    0.16

For the Three and Six Months Ended May 31, 2024

        For the Three Months Ended May 31, 2024

    For the Six Months Ended May 31, 2024

    Public Shares (basic and diluted)

    Founder Shares (basic and diluted)

    Public Shares (basic and diluted)

    Founder Shares (basic and diluted)

    Basic and diluted