Einride and Legato Merger Corp. III Move Forward on Ambitious Public Listing Plans

On December 15, 2025, Einride AB, a pioneering technology company specializing in electric and autonomous freight solutions, announced the confidential submission of a draft registration statement on Form F-4 to the U.S. Securities and Exchange Commission (SEC). This development marks a crucial step towards a proposed business combination with Legato Merger Corp. III, a special purpose acquisition company (SPAC). The official announcement of this transaction took place on November 12, 2025.

The Promise of Electric and Autonomous Freight

Einride was founded in 2016 and has its headquarters in Stockholm, Sweden. The company is committed to transforming the freight industry by providing cost-effective electric and autonomous freight services. Its robust dual business model encompasses Freight-Capacity-as-a-Service (FCaaS) and Software-as-a-Service (SaaS), powered by an AI-driven platform that seamlessly manages electric and autonomous freight operations.

The company has made impressive strides in the field, logging over 1,700 hours of driverless operations and delivering more than 11 million electric miles across numerous shipments. Einride's innovative technology is already in use by major customers, and the company expects a remarkable annual recurring revenue (ARR) of $65 million from signed contracts. Furthermore, Einride is projected to unlock more than $800 million in potential long-term ARR within joint business plans aimed at extending its electric and autonomous service reach worldwide.

A Milestone in the Public Listing Journey

This recent confidential submission is a significant milestone on Einride's journey toward a public listing, particularly following the recent appointment of Anubhav Verma as Chief Financial Officer. This strategic addition aims to enhance Einride's leadership team as the company prepares for its listing and subsequent growth in the financial sector.

The merger could yield approximately $220 million in gross proceeds, although this figure may fluctuate depending on redemption requests, expenses, and additional financing options, which might include up to $100 million in private investment in public equity (PIPE). This funding will be pivotal in advancing Einride's technology roadmap and supporting its global expansion strategies, especially in North America, Europe, and the Middle East.

Looking Ahead to 2026

The completion of the transaction is pending approval from Legato's shareholders and the SEC’s declaration that the Registration Statement is effective. Once finalized, the combined company is expected to be listed publicly on the New York Stock Exchange, representing a significant entry into the bustling trade of electric and autonomous logistics solutions.

Both Einride and Legato's boards of directors have unanimously greenlit the merger, setting the stage for a groundbreaking alliance that could reshape the freight logistics landscape.

About Einride and Legato

Einride is at the forefront of developing electric and autonomous freight solutions, working towards a future where transportation is not only efficient but also sustainable. Their operations stretch across key markets in North America, Europe, and the Middle East, highlighting their global vision.

Legato Merger Corp. III serves as a blank check company aimed at facilitating mergers and acquisitions with innovative firms like Einride. Together, they aim to harness their strengths for a future-forward transportation ecosystem.

As the world increasingly shifts towards sustainability, the merger of Einride and Legato could prove to be a transformative leap in the logistics industry, signaling a new era of electric and autonomous transportation.