GRAPEVINE, Texas, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Southland Holdings, LLC ("Southland"), and Legato Merger Corp. II (NASDAQ: LGTO, LGTOU, LGTOW) ("Legato II"), announced today they have completed their previously announced business combination. The post-merger company will operate as Southland Holdings, Inc. and is expected to change its trading symbols from LGTO and LGTOW to SLND and SLNDW. Southland will continue to provide world class construction services under the leadership of its current management.
"Today marks a historic milestone in the evolution of our company and is a testament to the 120 years of hard-working men and women who make Southland who we are today. We are proud of our rich history delivering North America's most challenging and iconic construction projects. We move forward in an optimal position to continue building vital infrastructure and creating sustainable solutions for future generations," said Frank Renda, Southland's President and Chief Executive Officer.
About Southland
Southland is a leading provider of specialized infrastructure construction services across North America including bridges, tunneling, transportation and facilities, marine, steel structures, water and wastewater treatment, and water pipeline end markets. With roots dating back to 1900, Southland and its subsidiaries form one of the largest infrastructure construction companies in North America, with experience throughout the world. Southland is headquartered in Grapevine, Texas.
On February 14 th , 2023, Southland consummated the transactions contemplated by the Agreement and Plan of Merger (the "Agreement") with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO, LGTOU, and LGTOW). Pursuant to the terms of the Agreement, a subsidiary of Legato II merged with and into Southland, with Southland surviving the merger as a wholly-owned subsidiary of Legato II. The Southland management team remained in place upon the closing of the merger. At such time, Legato II's name changed to Southland Holdings, Inc.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Southland's current beliefs, expectations and assumptions regarding the future of Southland's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Southland's control. Southland's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
Any forward-looking statement made by Southland in this press release is based only on information currently available to Southland and speaks only as of the date on which it is made. Southland undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Southland Contacts:
Cody Gallarda
EVP, Chief Financial Officer
cgallarda@southlandholdings.com
Alex Murray
Corporate Development & Investor Relations
amurray@southlandholdings.com
