Legato Merger Corp. III SEC 10-Q Report
Legato Merger Corp. III, a company focused on acquiring businesses in the infrastructure, engineering and construction, industrial, and renewables industries, has released its Form 10-Q report for the quarter ended August 31, 2025. The report provides a comprehensive overview of the company's financial performance and operational status, highlighting key metrics and future outlook.
Financial Highlights
Net Income: The company reported a net income of $1.999 million for the three months ended August 31, 2025, primarily driven by interest income from investments held in the Trust Account and operating account, offset by general and administrative costs. For the nine months ended August 31, 2025, net income was $6.052 million.
Net Income Per Share: Basic and diluted net income per share for Public Shares was $0.08 for the three months ended August 31, 2025, and $0.23 for the nine months ended August 31, 2025. Similarly, for Founder Shares, basic and diluted net income per share was $0.08 for the three months ended August 31, 2025, and $0.23 for the nine months ended August 31, 2025.
Business Highlights
Business Overview: Legato Merger Corp. III is focused on acquiring one or more businesses through a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination. The company is targeting businesses in the infrastructure, engineering and construction, industrial, and renewables industries.
Operational Status: As of August 31, 2025, the company had not commenced any operations. All activities to date have been related to the company's formation, the public offering, and the search for a target business for a potential business combination.
Initial Public Offering: The company completed its Initial Public Offering on February 8, 2024, raising gross proceeds of $201,250,000. These funds are intended to be used primarily for the acquisition of a target business.
Trust Account Management: The proceeds from the IPO and private placement were placed in a trust account, which is invested in U.S. government securities or money market funds. The company generates non-operating income from interest on these investments.
Future Outlook: The company has until February 8, 2026, to consummate an initial business combination. Management plans to complete a business combination before this deadline to avoid mandatory liquidation.
Segment Information: The company operates as a single segment, with the Chief Financial Officer reviewing the assets, operating results, and financial metrics for the company as a whole.
Management's Focus: The management team is focused on identifying and completing a business combination within the specified timeframe, leveraging the funds raised in the IPO and private placement.
Administrative Services: The company utilizes office space and administrative services provided by an entity controlled by Crescendo Advisors II, LLC, for which it pays a monthly fee.
Related Party Transactions: The company has engaged in transactions with related parties, including loans from Eric Rosenfeld, the Chief SPAC Officer, to cover expenses related to the IPO.
SEC Filing: Legato Merger Corp. III [ LEGT ] - 10-Q - Oct. 07, 2025