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NEW YORK, NEW YORK and SAULT STE. MARIE, ONTARIO, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Legato Merger Corp. (“Legato”) (Nasdaq: LEGO), a U.S. publicly-traded special purpose acquisition company, and Algoma Steel Group Inc. (“Algoma”), a fully integrated producer of hot and cold rolled steel products, today announced that Legato's stockholders have approved the previously announced business combination transaction between Legato and Algoma (the “Merger”). The holders of approximately 74% of the shares of Legato common stock voted at the special stockholder meeting and approximately 92% of the shares voted were voted in favor the Merger.  The holders of 716 shares of Legato common stock validly exercised their redemption rights in connection with the Merger. Legato will file with the Securities and Exchange Commission (the “SEC”) a Form 8-K disclosing the final voting results.

Related tickers: LEGO, LEGOU.

The month of October marks a slowdown in SPAC merger deal votes, but the calendar does include several multibillion-dollar deals. SPAC merger votes can act as a catalyst, as it completes the last step in the merger process and also changes the company over to a new name and ticker that can help build recognition. Several former SPACs have also seen wide swings in share prices after being de-SPACed if they receive heavy redemption and have a low float for shares available. Here is a look at the current October SPAC merger vote dates: Oct. 4: LifeSci Acquisition II Corp (NASDAQ: LSAQ) and Science37: Life sciences company Science37 is merging in a deal valuing the company at over $1 billion in a move that will help it fund its trials and extend into new areas. Oct. 5: Industrial Tech Acquisitions Inc (NASDAQ: ITAC) and Arbe Robotics: 4D imaging radar technology company Arbe Robotics expects fiscal 2021 revenue of $7.8 million and fiscal 2022 revenue of $13 million. Oct. 5: ACON S2 Acquisition Corp (NASDAQ: STWO) and ESS Tech: Long-range battery company ESS Tech is valued at $1.1 billion in a SPAC merger. The company’s batteries are engineered to support renewables and stabilize the electrical grid. Oct. 12: Live Oak Acquisition Corp II (NYSE: LOKB) and Navitas Semiconductor: With a proprietary semiconductor technology, Navitas says it can deliver three times faster charging in half the size and weight of ...

Related tickers: AAPL, LOKB, ICE, LEGO, T, KURI, TGT, BCYP, ITAC, GSAH, VIH, HZAC, TMTS, BOWX, STWO, LSAQ, MRAC, SGAM.