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With angle-resolved photoemission spectroscopy, we studied the electronicstructure of TaFe$_{1.23}$Te$_3$, which is a two-leg spin ladder compound witha novel antiferromagnetic ground state. Quasi-two-dimensional Fermi surface isobserved, indicating sizable inter-ladder hopping, which would facilitate thein-plane ferromagnetic ordering through double exchange interactions. Moreover,an energy gap is not observed at the Fermi surface in the antiferromagneticstate. Instead, the shifts of various bands have been observed. Combining theseobservations with density-functional-theory calculations, we propose that thelarge scale reconstruction of the electronic structure, caused by theinteractions between the coexisting itinerant electrons and local moments, ismost likely the driving force behind the magnetic transition.TaFe$_{1.23}$Te$_3$ thus provides a simpler system that contains similaringredients as the parent compounds of iron-based superconductors, which yetcould be readily modeled and understood.

Electronic Structure Reconstruction across the Antiferromagnetic Transition in TaFe$_{1.23}$Te$_3$ Spin Ladder