Legato Merger Corp. II
LGTOW
NASDAQ Global Market0.58
USD
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Legato Merger Corp. II
LGTOW
(NASDAQ Global Market)
Recent
price
0.58
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Legato Merger Corp. II (LGTOW) operates as a special purpose acquisition company (SPAC) focused on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses, primarily targeting the infrastructure, engineering and construction, industrial, and renewables industries. The company, founded in 2021 and headquartered in New York, New York, raised approximately $276 million in gross proceeds from its initial public offering in November 2021, including the full exercise of the over-allotment option, with funds held in trust for a qualifying transaction. It offers no independent products or services beyond its SPAC structure, instead providing public market access to private operating companies through de-SPAC mergers. In February 2023, Legato Merger Corp. II completed a definitive business combination with Southland Holdings, LLC, a provider of specialized infrastructure construction services including civil, transportation, and energy segments; Southland survived the merger as a wholly-owned subsidiary, and Legato II changed its name to Southland Holdings, Inc., with trading symbols shifting from LGTO/LGTOW to SLND/SLNDW. The merger agreement was announced in May 2022, valuing the transaction at approximately $829 million and enabling Southland to pursue organic growth, acquisitions, and balance sheet deleveraging under its existing management team. Post-merger, LGTOW warrants continue to trade in reference to the combined entity's performance, with Legato II's board integrating Southland designees while retaining key sponsors like Chairman Brian Pratt. The company conducts no ongoing operations outside its SPAC purpose and targets entities globally, with an emphasis on North America, particularly the United States and Canada. Prior to the Southland merger, Legato II held significant insider ownership, including stakes by CEO Gregory Monahan and Chief SPAC Officer Eric Rosenfeld, aligning interests with public shareholders. As of late 2025, no further major strategic shifts, funding rounds, or new alliances have been reported for the entity.