New updates have been reported about Einride.
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Einride has taken a key step toward going public, filing a Form F-4 registration statement with the U.S. SEC for its proposed business combination with Legato Merger Corp. III, a SPAC, paving the way for a planned Nasdaq listing of its ADSs under the ticker ENRD in the second quarter of 2026, subject to customary approvals and closing conditions. The deal implies a pre-money equity valuation of $1.35 billion for Einride and is structured to provide about $333 million in gross proceeds, including an oversubscribed $113 million PIPE from new and existing investors and up to $220 million from Legato’s cash-in-trust before redemptions and expenses.
Proceeds are expected to fund continued global expansion of Einride’s Freight-Capacity-as-a-Service platform, which combines one of the world’s largest electric heavy-duty fleets with autonomous trucks, AI optimization software and charging infrastructure, and supports a parallel strategy to license its Einride Driver autonomous stack and Saga fleet management software to third parties and OEMs. Einride reports more than 30 enterprise customers across seven countries, approximately $92 million in expected ARR from signed contracts and over $800 million in potential long-term ARR via joint business plans, alongside 2025 revenue of SEK 457.8 million, up from SEK 388.4 million in 2024, reflecting heavy investment in scaling operations, technology and infrastructure as it prepares for public market scrutiny.