Business
Einride, a Leading Digital, Electric and Autonomous Freight Technology Company, to Go Public via a Business Combination with Legato Merger Corp. III at a $1.8 Billion Valuation
Einride AB ("Einride" or the "Company"), a technology company driving the transition to electric and autonomous freight operations for some of the world's largest shippers, and Legato Merger Corp. III (NYSEAMERICAN: LEGT) ("Legato"), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement for a proposed business combination (the "Transaction") that would result in Einride becoming a NYSE-listed public company.
About this update from Legato Merger Corp. Iii
[{"type":"list","items":[{"val":[{"type":"text","content":"The business combination further strengthens Einride's unique positioning to lead the transition to autonomous freight operations in a $4.6 trillion global road freight market.","length":180,"tagName":"p"}]},{"val":[{"type":"text","content":"Sweden-based Einride has proven commercial traction with over 25 customers, including several blue-chips, across seven countries, and has developed industry-leading autonomous vehicle technology with regulatory permits across the United States and Europe.","length":255,"tagName":"p"}]},{"val":[{"type":"text","content":"The growth platform includes a contracted Annual Recurring Revenue ("ARR") base of $65 million and over $800 million in potential long-term ARR through Joint Business Plans with customers, providing a clear pathway for revenue scaling.","length":245,"tagName":"p"}]},{"val":[{"type":"text","content":"Einride's dual EV/AV platform and proprietary AI technology platform provide the operational foundation for scaling electric and autonomous freight operations with notable customers.","length":186,"tagName":"p"}]},{"val":[{"type":"text","content":"The transaction is expected to provide approximately $219 million in gross proceeds before accounting for potential redemptions, transaction expenses and any further financing. Additionally, the Company is seeking up to $100 million in PIPE capital1.","length":250,"tagName":"p"}]},{"val":[{"type":"text","content":"The transaction is further supported by $100 million in crossover capital raised by Einride during 2025 from existing and new institutional investors including a global asset management company based on the West Coast of the United States, EQT Ventures, and NordicNinja.","length":270,"tagName":"p"}]},{"val":[{"type":"text","content":"The transaction values Einride at $1.8 billion in pre-money equity value and is expected to result in Einride becoming a publicly listed company on the NYSE.","length":157,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1543,"olType":false},{"type":"text","content":"STOCKHOLM and NEW YORK, Nov. 12, 2025 /PRNewswire/ -- Einride AB ("Einride" or the "Company"), a technology company driving the transition to electric and autonomous freight operations for some of the world's largest shippers, and Legato Merger Corp. ...