Karpus Management Reduces Stake in Legato Merger Corp. III to 1.82%

Karpus Management, Inc. (d/b/a Karpus Investment Management) filed a Schedule 13G/A on June 5, 2026, disclosing a significant reduction in its position in Legato Merger Corp. III (LEGT). As of the event date on May 29, 2026, the reporting person holds 410,953 shares, representing a 1.82% ownership stake in the company. This marks a substantial decrease from the previously reported holding of 2,139,308 shares. Karpus Management, a New York-based registered investment adviser, maintains sole voting and dispositive power over all 410,953 shares. The filing notes that while Karpus is controlled by City of London Investment Group plc (CLIG), effective informational barriers are in place, ensuring that investment power is exercised independently. Consequently, beneficial ownership is not attributed to CLIG. By filing this amendment, Karpus indicates that its ownership has fallen below the 5% threshold, as confirmed by the 'Y' flag in Item 5 of the filing. The shares were acquired in the ordinary course of business without the intent to influence control of the issuer.