Legato Merger III priced its initial public offering of 17.5 million units at $10 each.
The units begin trading today on the NYSE American Market under the ticker symbol LEGT U.
The new SPAC intends to focus on target businesses in the infrastructure, engineering and construction, industrial and renewables industries.
Each unit consists of one share and one-half of a warrant. Once the securities begin separate trading, shares and warrants are expected to list on the NYSE American under the symbols LEGT and LEGT WS.
CEO Gregory Monahan also served as CEO and a member of the board of Legato II from November 2021 until its business combination with Southland in February 2023, and has continued to serve as a member of the board of directors of Southland since then.
Eric S. Rosenfeld is chief SPAC officer. Since August 2017, he has served as CEO of Allegro and served as chairman from August 2017 until April 2018. He served as the chief SPAC officer of Legato II from its inception in July 2021 until it completed its business combination.
Vice Chairman David D. Sgro has served as COO of Allegro Merger since August 2017 and its chairman since April 2018.
BTIG is sole book-running manager for the offering, with Craig-Hallum Capital Group as co-manager. Read more.
