MergerJun 10, 2026, 06:07 AM
Einride Completes Business Combination with Legato; Nasdaq Listing
AI Summary
Einride AB, a technology company focused on autonomous and electric freight, completed its business combination with Legato Merger Corp. III on June 9, 2026. As a result, Legato merged into Einride's subsidiary, and Legato's securityholders became Einride securityholders, with Legato shares converting to Einride ADSs. Einride also completed an oversubscribed PIPE financing, raising $113.3 million by issuing 12,235,420 ADSs and warrants. Einride's ADSs and warrants are expected to begin trading on Nasdaq under "ENRD" and "ENRDW" on June 10, 2026, with Einride valued at approximately $1.35 billion pre-money equity.
Key Highlights
- Einride completed its business combination with Legato Merger Corp. III on June 9, 2026.
- Einride ADSs and warrants will begin trading on Nasdaq under 'ENRD' and 'ENRDW' on June 10, 2026.
- Einride was valued at approximately $1.35 billion pre-money equity.
- The company raised $113.3 million through an oversubscribed PIPE financing for 12,235,420 ADSs and 18,353,130 PIPE Warrants.
- Holders of 16,596,675 Legato ordinary shares exercised their redemption rights.
- Post-combination, Einride has 140,039,054 ordinary shares and 10,340,313 Einride Warrants outstanding.
Price Impact
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