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SPAC · Merger completed

Legato Merger Corp.

Business combination with Algoma Steel Inc.

Legato Merger Corp. is a blank-check company (SPAC) that raised $205M in its initial public offering on Jan 21, 2021, listing on Nasdaq Capital Market. It completed its business combination with Algoma Steel Inc. on Oct 19, 2021; the combined company is Algoma Steel Group Inc. (ASTL). Graubard Miller advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

Algoma Steel Inc. is a fully integrated Canadian steel producer based in Sault Ste. Marie, Ontario, making hot and cold rolled sheet and plate. It supplies customers in Canada and the Midwest USA and is the only plate steel producer in Canada.

Status
Merger completed
IPO date
Jan 21, 2021
IPO size
$205M
IPO exchange
Nasdaq Capital Market
Target
Algoma Steel Inc.
Announced
May 25, 2021
Closed
Oct 19, 2021
Combined company
Algoma Steel Group Inc. (ASTL)
SPAC counsel (IPO)
Graubard Miller
Underwriters' counsel (IPO)
Loeb & Loeb

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