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Einride and Legato Merger Corp. III Announces $113 Million Oversubscribed Capital Raise in Support of Proposed Business Combination
Einride AB ("Einride" or the "Company"), a technology company driving the transition to cost-efficient electric and autonomous freight operations for some of the world's largest shippers, and Legato Merger Corp. III (NYSE American: LEGT) ("Legato") , a publicly traded special purpose acquisition company today announced an oversubscribed PIPE financing of approximately $113 million gross proceeds (the "PIPE"), in support of their previously announced proposed business combination (the "Transactio
About this update from Legato Merger Corp. Iii
[{"type":"text","content":"STOCKHOLM and NEW YORK, Feb. 26, 2026 /PRNewswire/ -- Einride AB ("Einride" or the "Company"), a technology company driving the transition to cost-efficient electric and autonomous freight operations for some of the world's largest shippers, and Legato Merger Corp. III (NYSE American: LEGT) ("Legato") , a publicly traded special purpose acquisition company today announced an oversubscribed PIPE financing of approximately $113 million gross proceeds (the "PIPE"), in support of their previously announced proposed business combination (the "Transaction").","length":617,"tagName":"p"},{"type":"text","content":"The PIPE financing was committed by new and existing investors including a global asset management company based on the West Coast of the United States, and Stockholm-based EQT Ventures. Proceeds from the PIPE are expected to support Einride's technology roadmap and global expansion, including autonomous deployments across North America, Europe, and the Middle East, and additional commercial applications of the Company's intelligent freight platform.","length":462,"tagName":"p"},{"type":"text","content":"To date, investors have committed an aggregate of approximately $213 million in financing in connection with the Transaction, including both the PIPE financing and Einride's already announced crossover financing of approximately $100 million. The proceeds from the PIPE financing exceeds the Company's previously announced expectations to raise up to $100 million in additional capital to support the Transaction.","length":421,"tagName":"p"},{"type":"text","content":""This PIPE reflects strong investor confidence in Einride's mission to transform global freight through autonomous and electric technology," said Roozbeh Charli, Chief Executive of Einride. "With this additional capital, we believe we are well positioned to scale our commercial deployments of electric and autonomous freight solutions with both existing and new customers, while continuing to invest in our automated driving system and intelligent freight platform."","length":491,"tagName":"p"},{"type":"text","content":""Einride continues to demonstrate leadership at the intersection of autonomy, electrification, and logistics," said Eric Rosenfeld, Chief SPAC Of...