Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 465

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 4
Chunk 465
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50. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $201,250,000. The securities in the IPO were registered under the Securities Act on a registration statement on Form S-1 (No. 333-275930). The Securities and Exchange Commission declared the registration statement effective on February 5, 2024.

Simultaneously with the consummation of the IPO, the Company consummated the Private Placement of 555,625 Private Placement Units at a price of $10.00 per Private Placement Unit, generating total proceeds of $5,556,250. The Private Placement Units were purchased by the Company’s initial shareholders and the underwriters in the IPO. The Private Placement Units are identical to the units sold in the IPO. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

As of February 8, 2024, an aggregate of $201,250,000 has been deposited in the Trust Account established in connection with the IPO ($10.00 per unit sold in the IPO).

Transaction costs amounted to $11,669,174, consisting of $4,025,000 in underwriting fees, up to $7,043,750 of deferred underwriting fees and $600,424 of other offering costs. Additionally, the underwriters made a payment to the Company in an amount equal to $1,509,375 to reimburse the Company for certain expenses in connection with the IPO and for expenses to be incurred by the Company.

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ITEM 6. [RESERVED]

Not applicable.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with our audited financial statements and the notes related thereto which are included in “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. Certain information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements,” “Item 1A. Risk Factors” and elsewhere in this Annual Report.

Overview

We were incorporated as an exempted company in the Cayman Islands on November 6, 2023 with the objective to acquire