Company: LEGT
Filing Date: 2025-07-02
Form Type: 10-Q
Source: 0001829126-25-004857
Chunk: 4

Company: Legato Merger Corp. III
Filing Date: 2025-07-02
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
,212,335

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

    Income from Investments held in Trust Account

    (4,484,817
    )

    (3,413,330
    )
  
    Changes in operating assets and liabilities:

    Prepaid expenses

    97,265

    (310,300
    )
  
    Net cash used in operating activities
     
    $
    (334,905
    )
     
    $
    (511,295
    )

    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 founder shares to initial shareholders

    -

    25,000

    Issuance of representative shares

    -

    500

    Proceeds from private placement units

    -

    5,556,250

    Sale of units in initial public offering

    -

    201,250,000

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

    -

    (3,116,505
    )
  
    Net cash provided by financing activities
     
    $
    -

    $
    203,715,245

    Net change in cash
     
    $
    (334,905
    )
     
    $
    1,953,950

    Cash at beginning of period
     
    $
    1,625,752

    $
    -

    Cash at end of period
     
    $
    1,290,847

    $
    1,953,950

    Supplemental disclosure of non-cash financing activities:

    Deferred underwriting commissions
     
    $
    -
     
    $
    7,043,750

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

4

LEGATO MERGER CORP. III

NOTES TO CONDENSED FINANCIAL STATEMENTS

MAY 31, 2025

(Unaudited)

Note 1 — Organization and Plan of Business Operations