Company: LEGT
Filing Date: 2025-10-07
Form Type: 10-Q
Source: 0001829126-25-007942
Chunk: 24

Company: Legato Merger Corp. III
Filing Date: 2025-10-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 once the Warrants become exercisable and ending three business days before the Company sends the notice of redemption to the warrant holders. 

The Company will not redeem the Warrants as described above unless an effective registration statement under the Securities Act covering the ordinary shares issuable upon exercise of the Warrants is effective and a current prospectus relating to those shares is available throughout the 30-day redemption period or the Company has elected to require the exercise of the warrants on a “cashless basis”.

    18

Note 8 — Fair Value Measurements

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of August 31, 2025 and November 30, 2024, and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

August 31, 2025

    Schedule of company’s assets that are measured at fair value on a recurring basis

    Description
     
    (Level 1)

    (Level 2)

    (Level 3)

    Assets:

    Investments held in Trust Account – Money Market Fund
     
    $
    216,806,288

    $
    -

    $
    -

November 30, 2024

    Description
     
    (Level 1)

    (Level 2)

    (Level 3)

    Assets:

    Investments held in Trust Account – Money Market Fund
     
    $
    210,061,362

    $
    -

    $
    -

Level 1 assets include investments comprised solely of U.S. government securities. The Company uses inputs such as actual trade data, quoted market prices from dealers or brokers, and other similar sources to determine the fair value of its investments.

Transfers to/from Levels 1, 2, and 3 are recognized at the beginning of the reporting period. There were no transfers to/from Levels 1, 2, and 3 during the nine months ended August 31, 2025 and for the year ended November 30, 2024.

Note 9 — Public Warrant Measurements

The public warrants were valued using a Black-Scholes model. The public warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the public warrants:

    Schedule of market assumptions used in the valuation of the public warrants

    February 8, 2024

    Market price