Einride, a technology company focused on electric and autonomous freight transportation, announced that shareholders of Legato Merger Corp. III have approved the previously announced business combination with Einride. The approval was secured at a special shareholder meeting on June 4, 2026, marking a significant milestone toward completing the transaction and Einride’s transition to the public markets.
The transaction assigns Einride a pre-money equity valuation of approximately $1.35 billion. In conjunction with the merger, the company previously raised $113 million through an oversubscribed PIPE financing round. The financing attracted support from both new and existing investors, including EQT Ventures and a major West Coast-based global asset management firm.
Founded in 2016, Einride has built a technology platform that combines artificial intelligence-powered logistics planning, electric freight vehicles, autonomous transportation technologies, and charging infrastructure. The company works with large shippers across the United States, Europe, and the Middle East to help transition freight operations toward more efficient and sustainable transportation models.
Einride currently serves more than 30 enterprise customers across seven countries. The company reports approximately $92 million in expected annual recurring revenue from signed contracts and estimates more than $800 million in potential long-term annual recurring revenue through joint business plans with major enterprise customers.
Following the completion of the merger, the combined company is expected to begin trading on the Nasdaq stock exchange. The company’s ordinary shares, represented by American Depositary Shares, are expected to trade under the ticker symbol ENRD, while warrants are expected to trade under the ticker symbol ENRDW.
The shareholder approval represents the final major step in the SPAC transaction process and positions Einride to access public capital markets as it expands deployment of its electric and autonomous freight technologies globally.
KEY QUOTE:
“At Einride, we are redesigning the way freight moves. We are building the world’s most efficient freight network and going public gives us the platform to deploy our electric and autonomous technologies at the speed this market demands.”
Roozbeh Charli, Chief Executive Officer, Einride
