Legato Merger Corp III (LEGT) News & EventsLEGTNews & EventsLegato Merger Corp III

Einride AB and Legato Merger Corp. III SEC Approval for Merger

Einride AB and Legato Merger Corp. III announced that on May 14, the SEC declared effective the Registration Statement on Form F-4 filed by the company with the SEC in connection with Einride and Legato's proposed business combination.

Einride and Legato Merger, Valued at $1.35 Billion

Einride and Legato Merger Corp. III announced the public filing of a registration statement on Form F-4 with the U.S. Securities and Exchange Commission in connection with the proposed business combination between Einride and Legato. The Transaction, which was announced on November 12, 2025, is expected to result in Einride listing its ordinary shares in the form of American Depositary Shares on NASDAQ in the second quarter of 2026 under the ticker symbol "ENRD", subject to customary closing conditions. The Transaction values Einride at a pre-money equity value of $1.35B and is expected to deliver approximately $333M in gross proceeds including a $113M oversubscribed PIPE capital raise, announced on February 26, 2026, from a group of new and existing investors, and up to $220M in proceeds from Legato's cash-in-trust before accounting for potential redemptions and transaction expenses.

Legato Merger Corp. III and Einride Complete $113M PIPE Financing

Legato Merger Corp. III and Einride, a technology company driving the transition to cost-efficient electric and autonomous freight operations for some of the world's largest shippers, announced an oversubscribed PIPE financing of approximately $113M gross proceeds in support of their previously announced proposed business combination. The PIPE financing was committed by new and existing investors including a global asset management company based on the West Coast of the U.S., and Stockholm-based EQT Ventures. Proceeds from the PIPE are expected to support Einride's technology roadmap and global expansion and additional commercial applications of the company's intelligent freight platform. To date, investors have committed an aggregate of approximately $213M in financing in connection with the Transaction, including both the PIPE financing and Einride's already announced crossover financing of approximately $100M. The proceeds from the PIPE financing exceeds the company's previously announced expectations to raise up to $100M in additional capital to support the transaction. The Transaction values Einride at a pre-money equity value of $1.35B and is expected to deliver approximately $333M in gross proceeds including the PIPE financing and $220M in proceeds from Legato's cash-in-trust before accounting for potential redemptions and transaction expenses. The combined company expects to list its ordinary shares, represented by ADSs and warrants on NYSE during 1H26 under the proposed ticker symbol "ENRD".