Company: LEGT
Filing Date: 2025-10-07
Form Type: 10-Q
Source: 0001829126-25-007942
Chunk: 15

Company: Legato Merger Corp. III
Filing Date: 2025-10-07
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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,680,625

    5,118,750

    20,680,625

    5,118,750

    Basic and diluted net income per ordinary share
     
    $
    0.08

    $
    0.08

    $
    0.23

    $
    0.23

For the Three and Nine Months Ended August 31, 2024

        For the Three Months Ended August 31, 2024

    For the Nine Months Ended August 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 net income per ordinary share

    Numerator:

    Allocation of net income as adjusted
     
    $
    2,062,896

    $
    510,596

    $
    4,637,885

    $
    1,147,943

    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
     
    $
    0.10

    $
    0.10

    $
    0.22

    $
    0.22

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

    12

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurement,” approximates the carrying amounts represented in the condensed balance sheets, primarily due to their short-term nature.

The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with