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Legato Merger Corp. II Announces Separate Trading of its Common Stock and Warrants

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Rhea-AI Summary

Legato Merger Corp. II (NASDAQ: LGTOU) announced that starting December 22, 2021, holders of its initial public offering units can trade shares of common stock and warrants separately. The common stock and warrants will trade under the symbols LGTO and LGTOW, respectively, while units not separated will continue to trade under LGTOU. Legato is a blank check company aiming for mergers or acquisitions in various industries including infrastructure and renewables.

Positive
  • Separation of units into common stock and warrants enhances liquidity for shareholders.
  • Focus on strategic sectors such as infrastructure, engineering, and renewables may present growth opportunities.
Negative
  • The company remains unmerged and has yet to identify a target, indicating potential delays in value realization for investors.

NEW YORK, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Legato Merger Corp. II (NASDAQ: LGTOU) (the “Company”) announced today that, commencing on or about December 22, 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 Global Market (“Nasdaq”) under the symbols “LGTO” and “LGTOW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on Nasdaq under the symbol “LGTOU.” Holders of units will need to have their brokers contact American 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. II is a Delaware corporation incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, 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 a particular industry or geographic region although the Company intends to initially focus on target businesses in the infrastructure, engineering and construction, industrial and renewables industries. The Company’s management team is comprised of Gregory Monahan, Chief Executive Officer and Director, Eric S. Rosenfeld, Chief SPAC Officer, Adam Jaffe, Chief Financial Officer and Secretary, Brian Pratt, Chairman of the Board, David D. Sgro, Vice Chairman of the Board, and Adam Semler, Ryan Hummer, D. Blair Baker, John Ing, and Craig Martin, each a Director of the Company. 

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 final prospectus relating to the Company’s initial public offering filed with the SEC on November 23, 2021. 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. 

Contacts:

Gregory Monahan
Chief Executive Officer
Legato Merger Corp. II
212-319-7676


FAQ

What is Legato Merger Corp. II planning to do with its units?

Legato Merger Corp. II allows holders to trade shares of common stock and warrants separately starting December 22, 2021.

What are the trading symbols for Legato Merger Corp. II's common stock and warrants?

The common stock will trade under the symbol LGTO and the warrants under LGTOW.

What industries is Legato Merger Corp. II focusing on for potential mergers?

Legato is targeting businesses in infrastructure, engineering, construction, industrial, and renewables.

What happens to units that are not separated?

Units that are not separated will continue to trade under the symbol LGTOU.

Is there any risk associated with Legato Merger Corp. II's future plans?

Yes, the company has yet to identify a merger target, which may lead to uncertainty for investors.

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