#USA #New York #Einride #Electric Freight #Legato Merger Corp.

Einride and Legato Merger Corp. III Announce Confidential Submission of Draft Registration Statement

In an important step towards a significant merger in the freight industry, Einride AB, a pioneering technology company specializing in electric and autonomous freight transportation, has announced the confidential submission of a draft registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC). This filing, made on December 12, 2025, is linked to Einride's proposed business combination with Legato Merger Corp. III, a special purpose acquisition company (SPAC).

Einride has established itself as a leader in the transition towards cost-effective electric and autonomous freight operations, serving some of the globe's largest shippers. The company has reported substantial growth, particularly in the United States, which stands as its second-largest market. Notably, over 1,700 driverless hours have been logged in contracted operations, alongside impressive metrics that include over 11 million electric miles driven and 350,000 executed shipments. These achievements translate to a projected annual recurring revenue (ARR) of $65 million from contracts with notable clients.

With expectations of long-term ARR exceeding $800 million through ongoing Joint Business Plans, Einride's position in the market is set for further expansion. The latest draft registration marks a critical milestone towards its public listing, reinforcing its leadership team with the appointment of Anubhav Verma as Chief Financial Officer.

The merger, originally announced on November 12, 2025, is anticipated to generate approximately $220 million in gross proceeds prior to any redemptions, transaction expenses, or additional financing, which may include up to $100 million through PIPE capital. These funds will be vital for sustaining Einride's technology initiatives and supporting its global expansion strategies, particularly in the realms of autonomous deployments across North America, Europe, and the Middle East.

While the deal holds promise, it remains contingent upon approval from Legato's shareholders and the SEC's validation of the registration statement, alongside other standard closing conditions. The closing of this deal is projected for the first half of 2026, leading to the combined entity potentially being listed on the New York Stock Exchange.

Founded in 2016, Einride seeks to transform the freight industry through innovative electric and autonomous solutions, optimizing supply chain logistics. Its AI-powered platform amalgamates planning and operational capabilities, resulting in one of the largest fleets of electric heavy-duty vehicles worldwide. Serving clients across crucial markets, including North America, Europe, and the Middle East, Einride is actively shaping the future of sustainable transport.

As the public awaits more updates, both Einride and Legato's entities are fostering anticipation about the transformative impact this merger will have on the electrification and automation of freight, which stands to revolutionize logistics and transportation sectors on a global scale.

Investors and stakeholders are encouraged to review the forthcoming proxy statement and prospectus, which will provide essential details about the proposed transaction. As the respective organizations gear up for this development, they remain focused on addressing customary closing conditions and regulatory approvals that will facilitate the success of this landmark merger.

For any parties interested in more in-depth information about the nuances of this strategic merger and its implications for the freight industry, the companies will continue to update through official channels as more information becomes available.