Overview
- Einride agreed to merge with Legato Merger Corp. III in a transaction that assigns a $1.8 billion pre-money valuation.
- The company expects roughly $219 million in gross proceeds from the SPAC and is seeking up to $100 million in PIPE financing.
- A New York Stock Exchange debut is targeted for the first half of 2026, with management retained and existing holders projected to own about 83% at close.
- Einride reports a $45 million ARR run rate, $65 million in contracted ARR, a fleet of about 200 electric trucks, and operations in Europe, North America, and the UAE serving customers such as GE Appliances, PepsiCo, Heineken, Carlsberg Sweden, DP World, and Apotea.
- The firm cites more than 1,700 driverless hours, over 11 million electric miles, and 350,000-plus shipments, following a $100 million October raise and a $500 million equity-and-debt package in 2022.