Einride completes SPAC business combination and begins Nasdaq trading
Einride AB closed its merger with Legato Merger Corp. III on June 9, 2026, with Einride valued at approximately $1.35 billion pre-money equity value. In connection with the closing, Legato's ordinary shares converted into Einride American depositary shares and warrants, which began trading on Nasdaq under ticker symbols ENRD and ENRDW on June 10, 2026. Einride raised $113 million through a PIPE financing supported by investors including EQT Ventures.
Key facts
- Einride AB valued at approximately $1.35 billion pre-money equity value
- $113 million raised through oversubscribed PIPE financing
- Closing date: June 9, 2026
- ADSs and warrants began trading on Nasdaq on June 10, 2026 under symbols ENRD and ENRDW
- Legato Merger Corp. III shareholders approved the transaction on June 4, 2026
- Legato merged with and into Einride Cayman Sub Limited, with Merger Sub surviving as direct, wholly-owned subsidiary of Einride
- Each Legato ordinary share converted into one Einride ADS
- Legato ceased to exist as a separate legal entity upon consummation
Why it matters
The transaction transitions Einride from a private company to a publicly traded entity on Nasdaq and provides $1.13 billion in gross capital ($113 million PIPE plus Legato trust account proceeds) to fund the autonomous and electric freight technology company's growth and operations.
Developing story
- 25-NSE
- 8-Kthis filing
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Derived from 8-K filed 2026-06-10. Not investment advice. View the source filing on SEC.gov →