LEGOLOW SIGNALREGULATORY10-Q
Legato Merger Corp.'s 10-Q filing shows routine quarterly reporting progression from November 2025 to February 2026 period, with the SPAC maintaining pre-operational status throughout both reporting periods.
The filing reflects standard SPAC reporting mechanics as the entity progresses through its initial quarters post-IPO while seeking merger targets. For SPAC investors, the consistent pre-operational language indicates the company remains within typical timelines for identifying and executing a business combination, with no apparent delays or complications in the acquisition process.
Comparing 2026-04-14 vs 2026-02-26View on EDGAR →
LANGUAGE CHANGES
NEW — 2026-04-14
PRIOR — 2026-02-26
ADDED
Condensed Interim Financial Statements 1 Condensed Balance Sheet as of February 28, 2026 (unaudited) 1 Condensed Statements of Operations for the three and six months ended February 28, 2026 (unaudited) 2 Condensed Statements of Changes in Shareholders Deficit for the three and six months ended February 28, 2026 (unaudited) 3 Condensed Statement of Cash Flows for the six months ended February 28, 2026 (unaudited) 4 Notes to Condensed Financial Statements (unaudited) 5 Item 2.
IV NOTES TO CONDENSED FINANCIAL STATEMENTS FEBRUARY 28, 2026 (Unaudited) Note 1 Organization and Plan of Business Operations Legato Merger Corp.
At February 28, 2026, the Company had not yet commenced any operations.
All activity from September 1, 2025 (inception) through February 28, 2026 relates to the Company s formation and the initial public offering described below.
dollars, in accordance with accounting principles generally accepted in the United States of America ( U.S.
GAAP ) and pursuant to the rules and regulations of the SEC, and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position as of February 28, 2026 and the results of operations and cash flows for the periods presented.
Certain information and disclosures normally included in unaudited condensed financial statements prepared in accordance with U.S.
GAAP have been omitted pursuant to such rules and regulations.
Interim results are not necessarily indicative of results for a full year or any future period.
The unaudited condensed financial statements should be read in conjunction with the Company s audited financial statements and notes thereto included in the final prospectus filed by the Company with the SEC on January 26, 2026.
REMOVED
Condensed Interim Financial Statements 1 Condensed Balance Sheet as of November 30, 2025 (unaudited) 1 Condensed Statement of Operations for the period from September 1, 2025 (inception) through November 30, 2025 (unaudited) 2 Condensed Statement of Changes in Shareholders Deficit for the period from September 1, 2025 (inception) through November 30, 2025 (unaudited) 3 Condensed Statement of Cash Flows for the period from September 1, 2025 (inception) through November 30, 2025 (unaudited) 4 Notes to Condensed Financial Statements (unaudited) 5 Item 2.
IV UNAUDITED CONDENSED STATEMENT OF OPERATIONS FOR THE PERIOD FROM SEPTEMBER 1, 2025 (INCEPTION) THROUGH NOVEMBER 30, 2025 Interest income earned on cash account $ 85 General and administrative costs ( 33,841 ) Net loss $ ( 33,756 ) Weighted average shares outstanding, basic and diluted (1) 6,716,667 Basic and diluted net loss per common share $ ( 0.01 ) (1) Excludes an aggregate of 1,000,000 ordinary shares that no longer will be subject to forfeiture by the initial shareholders as the underwriters over-allotment option was exercised in full.
IV NOTES TO CONDENSED FINANCIAL STATEMENTS NOVEMBER 30, 2025 (Unaudited) Note 1 Organization and Plan of Business Operations Legato Merger Corp.
At November 30, 2025, the Company had not yet commenced any operations.
All activity from September 1, 2025 (inception) through November 30, 2025 relates to the Company s formation and the initial public offering described below.
6 Note 2 Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements are presented in U.S.
dollars in conformity with accounting principles generally accepted in the United States of America ( GAAP ) and pursuant to the rules and regulations of the U.S.
Liquidity and Capiral Resources The Company does not have sufficient liquidity to meet its anticipated obligations over the next year from the date of issuance of these unaudited condensed financial statements.
The Company has since closed its Initial Public Offering on January 22, 2026 and the full exercise by the underwriters of their over-allotment option.
Capital in excess of the funds deposited in Trust Account and/or used to fund offering costs and other expenses was released to the Company for general capital purposes.
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