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. The Transaction is expected to create the public market’s premier autonomous and electric freight technology platform, combining Einride’s technology platform and operational expertise across seven countries with proven commercial traction and leadership in autonomous vehicle deployments. Upon closing, the combined company is expected to continue its operations with more than 25 enterprise customers, manage and grow its current fleet of approximately 200 electric vehicles, and advance scaling autonomous deployments with customers that today include GE Appliances and Apotea, Sweden’s leading online pharmacy.