Legato Merger Corp. III (LEGT) delists; Exchange certifies withdrawal under 12d2-2
Rhea-AI Filing Summary
Legato Merger Corp. III notified the withdrawal of its Ordinary Shares, Units and Redeemable Warrants from listing and registration on NYSE American LLC. The notification references rule 17 CFR 240.12d2-2 and shows the Exchange and the issuer complied with applicable withdrawal procedures.
Positive
- None.
Negative
- None.
Insights
Delisting follows procedural withdrawal under 17 CFR 240.12d2-2.
The filing is a procedural notification that NYSE American LLC and the issuer completed the steps required to remove Ordinary Shares, Units and Redeemable Warrants from listing and registration.
As a procedural action, the main items to watch in subsequent filings are any notices to holders or follow-up filings describing transfer, liquidation or settlement mechanics.
Key Figures
Commission File Number: 001-41945
Rule cited: 17 CFR 240.12d2-2
Warrant exercise price: $11.50 per share
+2 more
5 metrics
Commission File Number
001-41945
Form 25 cover reference
Rule cited
17 CFR 240.12d2-2
Exchange and issuer compliance for withdrawal
Warrant exercise price
$11.50 per share
Redeemable Warrants exercisable for one ordinary share
Expiration reference
March 31, 2018
Header expiration date shown on the form
Issuer address zip
10017
Principal executive offices address
Key Terms
Form 25, 12d2-2 / 17 CFR 240.12d2-2, Units, Redeemable Warrants
4 terms
Form 25 regulatory
"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING"
A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.
12d2-2 / 17 CFR 240.12d2-2 regulatory
"Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied"
Units financial
"Units, each consisting of one ordinary share and one-half of one warrant"
Units are bundled securities sold as one package in a financing—commonly a share paired with an instrument that gives the holder the right to buy more shares later. For investors this matters because a unit’s extra component can change future supply of shares and potential returns, similar to buying a combo with a coupon that can be redeemed later and alter what you actually receive and what others might own.
Redeemable Warrants financial
"Redeemable Warrants, each whole warrant exercisable for one ordinary share"
A redeemable warrant is a tradable right that lets its holder buy a company’s shares at a fixed price before a set date, but the issuer has the contract power to cancel (redeem) the warrant early under agreed terms. For investors this matters because early redemption can force decision-making, change the timing of when new shares might be created, and affect potential gains or dilution—much like a store coupon that the issuer can cancel by paying you off instead of letting you use it.
FAQ
What happened to LEGT's listing on NYSE American?
The listing was withdrawn and the class of securities was struck from NYSE American. The notice cites 17 CFR 240.12d2-2 and confirms Exchange and issuer compliance with withdrawal procedures.
Which classes of Legato Merger Corp. III securities were removed?
Ordinary Shares, Units (one ordinary share plus one-half warrant) and Redeemable Warrants were removed. The warrants are exercisable at $11.50 per share as stated in the notice.
Who certified the removal from listing and registration?
The certification was made on behalf of NYSE American LLC and signed by Anthony Sozzi, Analyst, Market Watch, stating the Exchange had reasonable grounds and complied with the rule requirements.
Does the notice include an effective or expiration date?
The document shows an expiration reference of March 31, 2018 in the header area. The filing text itself cites the Exchange rules governing voluntary withdrawal under 12d2-2.
What is the exercise price for the redeemable warrants?
The redeemable warrants are described as exercisable for one ordinary share at an exercise price of $11.50 per share, per the filing's securities description.
AI-generated analysis. How Rhea-AI works. Not financial advice.
