Legato Merger Corp. (LEGO) director discloses 180,000 shares and 20,000 warrants
Rhea-AI Filing Summary
Legato Merger Corp. director John Ing reported his initial beneficial ownership of the company’s securities. The holdings are indirect through The Mont Blanc Investment Corporation, which holds 180,000 ordinary shares and 20,000 warrants.
The 180,000 ordinary shares include 60,000 shares contained in units that Mont Blanc had irrevocably committed to purchase before Legato’s initial public offering and that were bought at the IPO closing. The 20,000 warrants were also acquired in units purchased at the IPO closing. Each warrant becomes exercisable 30 days after Legato completes its initial business combination and will generally expire five years after that completion or earlier if redeemed or if no business combination is completed and the trust account is liquidated.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrants | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Footnotes (4)
- F1. Includes 60,000 shares contained within units that the reporting person had irrevocably committed to purchase prior to the Issuer's initial public offering (the "IPO") and which were purchased simultaneously with the closing of the IPO.
- F2. Represents warrants contained within units that the reporting person purchased at the closing of the Issuer's IPO.
- F3. Each warrant will become exercisable 30 days after the completion by the Issuer of an initial business combination.
- F4. Each warrant will expire five years after the completion by the Issuer of an initial business combination, or earlier upon redemption; provided that the warrants will expire earlier if the Issuer has not completed an initial business combination within the required time period and liquidates the trust account in connection therewith.
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