4/A: Legato Merger Corp. III: Director Brian Pratt Corrects Form 4 Filing Regarding Share Disposition

Brian Pratt, a director of Legato Merger Corp. III, amended a previous Form 4 filing to clarify that a disposition of shares was a sale at cost, not a gift.

Summary

• Brian Pratt, a director of Legato Merger Corp. III, filed an amended Form 4 with the SEC.
• The amendment corrects the nature of a transaction involving ordinary shares that was initially reported on April 3, 2024.
• The original filing incorrectly stated that the disposition of 40,000 shares was a gift.
• The corrected filing clarifies that the disposition was a sale at the price initially paid by Pratt, which was $0.0049 per share.
• Following the transaction, Pratt beneficially owns 1,160,000 ordinary shares.

Sentiment

Score: 7

Explanation: The document is a routine correction of a regulatory filing. It doesn't indicate any fundamental change in the company's prospects, but transparency is generally viewed positively.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency in the market.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding insider transactions.

Key Dates