Einride AB Completes Merger with Legato Merger Corp. III, Begins Trading on Nasdaq as ENRD
Einride AB, a technology company specializing in autonomous and electric freight solutions, has successfully completed a business combination with Legato Merger Corp. III. The transaction was approved by Legato shareholders at a meeting on June 4, 2026. Following the completion of the merger, Einride's American depository shares and warrants will trade on Nasdaq under the ticker symbols "ENRD" and "ENRDW" starting June 10, 2026. The transaction valued Einride at approximately $1.35 billion, with $113 million raised through a PIPE financing supported by investors like EQT Ventures and a global asset management company.
TD Cowen and BTIG, LLC served as financial and capital markets advisors, with legal counsel provided by DLA Piper LLP (US), Advokatfirma DLA Piper Sweden KB, and Conyers Dill & Pearman LLP for Einride, and Graubard Miller, Lindskog Malmström Advokatbyrå AB, and Appleby (Cayman) Ltd. for Legato. Einride, founded in 2016, focuses on developing digital, electric, and autonomous freight solutions to enhance cost-efficient transportation. The company's technology platform includes AI-powered planning and optimization, autonomous technologies, a large electric heavy-duty fleet, and charging infrastructure, serving customers in North America, Europe, and the Middle East.
This communication contains forward-looking statements regarding Einride's expected listing on Nasdaq. These statements are subject to risks and uncertainties, including potential disruptions to the company's operations post-transaction, regulatory changes, competition, and supply shortages. Readers are advised to consider the risks outlined in the company's filings with the SEC. Forward-looking statements are not guarantees of future performance and are qualified by cautionary statements. The company does not intend to update or revise these statements unless required by law.
For investor and media inquiries, please contact Einride's Head of Communications, Christina Zander, at [email protected] or [email protected].