SPAC Legato Merger Corp. IV prices $200 million IPO, targeting industrials and AI
IPO Overview
Legato Merger IV, a blank check company formed by execs at Crescendo Partners targeting infrastructure, industrials, and AI, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
Legato Merger IV is led by CEO and Director Gregory Monahan, a Senior Managing Director of Crescendo Partners, and Chief SPAC Officer Eric Rosenfeld, the CEO of Crescendo Partners. They are joined by Chairman Brian Pratt and Vice Chairman David Sgro, both of whom have been involved with previous Legato SPACs.
Legato Merger IV’s pricing comes on the heels of Legato Merger III （LEGT） announcing its plan to combine with Swedish EV/AV trucking company Einride late last year. Previous SPACs include Legato Merger II, which merged with construction company Southland Holdings （SLND） in 2023; and Legato Merger, with merged with Canada’s Algoma Steel （ASTL） in 2021.
Legato Merger IV plans to list on the NYSE under the symbol LEGO.U. BTIG acted as sole bookrunner on the deal.
About the Company
We are a blank check formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination. Our efforts to identify a prospective target business will not be limited to a particular industry or geographic region although we currently intend to focus on target businesses in the infrastructure, industrial, artificial intelligence, and technology industries. In evaluating a prospective target business, our management may consider a variety of factors, including one or more of the following: financial condition and results of operation; growth potential; brand recognition and potential; experience and skill of management and availability of additional personnel; capital requirements; competitive position; barriers to entry; stage of development of the products, processes or services; existing distribution and potential for expansion; degree of current or potential market acceptance of the products, processes or services; degree of current or potential market acceptance of the products, processes or services; proprietary aspects of products and the extent of intellectual property or other protection for products or formulas; impact of regulation on the business; regulatory environment of the industry; costs associated with effecting the business combination; industry leadership, among other characteristics.