Legato Merger Corp. III filings document a blank-check issuer structure, including units, ordinary shares, and redeemable warrants registered on NYSE American. Its regulatory record includes Form 8-K material-event reports and proxy materials covering material agreements, shareholder voting matters, governance, capital-structure disclosures, and SPAC security-structure information.
Filings also describe the company as a Cayman Islands exempted company and record public-company reporting matters such as operating and financial results, audit-related disclosures, and changes or amendments to material transaction documents while the issuer remains structured as a SPAC.
Legato Merger Corp. III announced a Business Combination Agreement with Einride AB, under which Legato will merge into Einride’s subsidiary, leaving Merger Sub as a wholly owned unit of Einride and Legato shareholders becoming Einride shareholders via American depositary shares.
At closing, each Legato ordinary share will be exchanged 1:1 for one Einride common share, and Legato warrants will convert into Einride warrants on the same basis. Einride will complete a stock split so that 165,137,615 Einride common shares are outstanding immediately after the split and before the merger mechanics. The transaction is expected to close in Q1 2026, subject to shareholder approvals and other conditions.
Governance is expected to include a seven‑member board with at least three independent directors. Lock-ups apply until six months after closing, or earlier if Einride’s share price reaches $18.00 for 20 of 30 trading days, or upon a change of control. SPAC founders agreed to vote in favor, forgo redemptions, potentially transfer up to 1,000,000 shares to incentivize investors, and forfeit up to 2,400,000 initial shares depending on public redemptions.
Legato Merger Corp. III (LEGT) is a blank‑check company that completed an initial public offering of 20,125,000 Units (including the full over‑allotment) at $10.00 per Unit, generating gross proceeds of $201,250,000. Of that amount, $201,250,000 (and related trust balances noted at about $201.7M) was placed in a trust account invested in short‑term U.S. government securities or money market funds pending an initial Business Combination.
The filing shows 25,799,375 ordinary shares issued and outstanding (including Founder and Representative Founder Shares) and discloses 20,125,000 Public Shares subject to possible redemption. The company holds $1,078,756 in cash outside the Trust Account for working capital and reported working capital loans that were subsequently settled. There is no assurance a Business Combination will be completed; if none occurs within the Combination Period, public shareholders may redeem 100% of Public Shares for their pro rata Trust Account value (initially $10.00 per share).
Legato Merger Corp. III is reported as having 3,495,104 common shares beneficially owned by Karpus Management, Inc., representing 13.55% of the class under CUSIP G5451A103. Karpus states it has sole voting and dispositive power over these shares and that the shares are held in accounts it manages. The filing identifies Karpus as a registered investment adviser organized in New York and notes informational barriers with its parent, City of London Investment Group plc, so that Karpus exercises independent voting and investment power. The filing asserts the shares were acquired in the ordinary course of business and not to influence control of the issuer.