Rosenfeld and Sgro's SPAC Legato Merger II files for a $200 million IPO

Legato Merger II, a blank check company targeting the infrastructure, E&C, industrial and renewables industries, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed price, Legato Merger II would command a market value of $261 million.

The company is led by SPAC veterans Vice Chairman David Sgro and Chief SPAC Officer Eric Rosenfeld, who have led seven previous SPACs. The most recent, Legato Merger, completed a merger with Algoma Steel (ASTL) in October 2021. They are joined by CEO and Director Gregory Monahan, who is Senior Managing Director of Crescendo Partners, and Chairman Brian Pratt. The company intends to focus on target businesses in the infrastructure, engineering and construction (“E&C”), industrial and renewables industries. 

Legato Merger II was founded in 2021 and plans to list on the Nasdaq under the symbol LGTOU. EarlyBirdCapital is the sole bookrunner on the deal.