Legato Merger Corp. Announces Separate Trading of its Common Stock and Warrants
Legato Merger Corp. (NASDAQ: LEGOU) announced that starting March 4, 2021, holders of its IPO units may separately trade the company's common stock and warrants. The common stock will trade under the symbol 'LEGO', and the warrants will trade as 'LEGOW'. Units that remain intact will continue to trade as 'LEGOU'. The company, formed for the purpose of merging or acquiring businesses, aims to focus on the renewables, infrastructure, engineering, and industrial sectors. EarlyBirdCapital, Inc. was the sole book-running manager for the IPO completed in January 2021.
- Units can now be separated into common stock and warrants, increasing trading flexibility.
- Focus on renewables and infrastructure could position the company in high-growth sectors.
- Uncertainty remains regarding the identification of target businesses.
NEW YORK, March 03, 2021 (GLOBE NEWSWIRE) -- Legato Merger Corp. (NASDAQ: LEGOU) (the “Company”) announced today that, commencing on or about March 4, 2021, holders of its units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s common stock and warrants included in the units. The shares of common stock and warrants that are separated will trade on the Nasdaq Capital Market (“Nasdaq”) under the symbols “LEGO” and “LEGOW,” respectively. Those units not separated will continue to trade on Nasdaq under the symbol “LEGOU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of common stock and warrants.
Legato Merger Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to any particular industry or geographic region, although the Company currently intends to focus on target businesses in the renewables, infrastructure, engineering and construction and industrial industries.
EarlyBirdCapital, Inc. acted as the sole book running manager for the Company’s initial public offering which was consummated in January 2021. I-Bankers Securities, Inc. acted as co-manager. A registration statement relating to the Company’s offer and sale of these securities was filed with the Securities and Exchange Commission (“SEC”) and became effective on January 19, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
David D. Sgro
Chief Executive Officer
Legato Merger Corp.
212-319-7676
FAQ
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