Legato Merger Corp. (LEGO)

Legato Merger Corp. (LEGO $11.25)
- $11.25 Cap: $340M
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Legato Merger Corp. (LEGO $11.25)
- $11.25 Cap: $340M
- View LEGO Profile
- View Questions on LEGO

Q: I received a message from my broker stating that I have three options regarding Redemption of these units, basically redeem or don't (and take part in the transition to Algoma, I guess).

1. Why would you need/use the redemption offer rather than sell on the exchange (at least while trading above the redemption price as it is at the moment)?

2. The message included this: WARNING: RESTRICTED, PRIVATE OR NON-QUALIFIED SHARES ARE NOT ALLOWED IN YOUR RBC DIRECT INVESTING INC. ACCOUNTS AND FOR REGISTERED ACCOUNTS MAY ALSO BE SUBJECT TO PENALTY TAX.

Does this actually apply to these units, or is it boilerplate?

Read Answer Asked by Peter on October 07, 2021