Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Legato Merger Corp. III ( (LEGT) ) has shared an update.
Legato Merger Corp. III is a New York Stock Exchange-listed special purpose acquisition company formed to pursue mergers or similar business combinations, and it is currently working to take Einride AB public. Einride, founded in 2016 in Sweden, develops and operates digital, electric and autonomous freight solutions, using an AI-powered logistics platform, a large electric heavy-duty fleet and charging infrastructure to serve shippers across North America, Europe and the Middle East.
On February 26, 2026, Legato and Einride amended their business combination terms, cutting Einride’s agreed equity value from $1.8 billion to $1.35 billion while securing an oversubscribed PIPE that will raise about $113 million through sales of American depositary shares and associated warrants to accredited investors. Together with a previously announced $100 million crossover round and Legato’s $220 million cash-in-trust, total committed financing tied to the deal now stands at roughly $333 million before redemptions and expenses, bolstering Einride’s balance sheet for technology development and global expansion as it prepares to list on the NYSE in the first half of 2026, although completion remains subject to shareholder and regulatory approvals.
More about Legato Merger Corp. III
Legato Merger Corp. III is a New York Stock Exchange-listed special purpose acquisition company formed to pursue mergers or similar business combinations, and it is currently working to take Einride AB public. Einride, founded in 2016 in Sweden, develops and operates digital, electric and autonomous freight solutions, using an AI-powered logistics platform, a large electric heavy-duty fleet and charging infrastructure to serve shippers across North America, Europe and the Middle East.
On February 26, 2026, Legato and Einride amended their business combination terms, cutting Einride’s agreed equity value from $1.8 billion to $1.35 billion while securing an oversubscribed PIPE that will raise about $113 million through sales of American depositary shares and associated warrants to accredited investors. Together with a previously announced $100 million crossover round and Legato’s $220 million cash-in-trust, total committed financing tied to the deal now stands at roughly $333 million before redemptions and expenses, bolstering Einride’s balance sheet for technology development and global expansion as it prepares to list on the NYSE in the first half of 2026, although completion remains subject to shareholder and regulatory approvals.
Average Trading Volume: 31,128
Technical Sentiment Signal: Strong Buy
Current Market Cap: $228.3M
For detailed information about LEGT stock, go to TipRanks’ Stock Analysis page.