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Legato Merger Corp. II (Nasdaq: LGTOU, LGTO, LGTOW) has announced its Annual Meeting of Stockholders set for February 14, 2023, at 10:00 a.m. EST. Stockholders on record as of January 24, 2023, can vote on the proposed business combination with Southland Holdings LLC, a leading provider of specialized infrastructure construction services across North America. The merger aims to enhance Legato II's portfolio and market position. Further details will be shared through Legato’s proxy statement/prospectus, which stockholders are encouraged to read carefully for critical insights regarding the transaction.
Legato II has signed a merger agreement with Southland Holdings, a leader in specialized infrastructure construction services. This business combination will make Southland a wholly-owned subsidiary of Legato II, with the expected closing in Q4 2022. The merger, valuing the combined entity at $810 million, aims to enhance Southland's growth potential through increased resources and opportunities. Stockholders will receive up to $498 million in total, which includes $220 million in cash for Southland’s balance sheet. The deal forecasts significant operational synergies and value creation.
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.
Legato Merger Corp. II (NASDAQ: LGTOU) announced the closure of an additional sale of 3,600,000 units at $10.00 per unit, resulting from the full exercise of the underwriters' over-allotment option. This sale generated $280,140,000 for the company, which has been deposited into the trust account related to its initial public offering. Each unit consists of one share of common stock and one-half of a redeemable warrant. The company, incorporated as a blank check firm, targets mergers in infrastructure, engineering, and renewables sectors.
Legato Merger Corp. II has successfully closed its upsized initial public offering, raising $240 million by selling 24 million units at $10 each. The units, which consist of one common stock share and half a warrant, began trading on Nasdaq under the ticker symbol 'LGTOU' on November 22, 2021. Each whole warrant grants the right to purchase a share of common stock at $11.50. The Company aims to identify merger opportunities primarily in the infrastructure, engineering, construction, and renewables sectors. EarlyBirdCapital, Inc. served as the sole book-running manager for the offering.
