Legato Merger Corp. II’s (NASDAQ:LGTOU – Get Rating) lock-up period will expire on Monday, May 23rd. Legato Merger Corp. II had issued 24,000,000 shares in its public offering on November 22nd. The total size of the offering was $240,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Shares of LGTOU opened at $10.01 on Monday. Legato Merger Corp. II has a twelve month low of $9.92 and a twelve month high of $10.15. The company has a 50 day moving average price of $10.06.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Condor Capital Management acquired a new stake in Legato Merger Corp. II in the fourth quarter valued at approximately $40,000. Clear Street LLC acquired a new stake in Legato Merger Corp. II in the first quarter valued at approximately $104,000. Citigroup Inc. acquired a new stake in Legato Merger Corp. II in the fourth quarter valued at approximately $190,000. Mint Tower Capital Management B.V. acquired a new stake in shares of Legato Merger Corp. II during the fourth quarter worth $251,000. Finally, Walleye Trading LLC acquired a new stake in shares of Legato Merger Corp. II during the fourth quarter worth $361,000.
Legato Merger Corp. II does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on businesses in the infrastructure, engineering and construction, industrial, and renewables industries.
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