Autonomous trucking firm Einride going public via $1.8B SPAC deal
Seeking additional $100M in PIPE funding
Autonomous EV trucking company Einride AB is set to go public on the New York Stock Exchange via merger with special purpose acquisition company Legato Merger Corp. III.
The transaction puts Stockholm-based Einride’s pre-money valuation at $1.8 billion and is expected to raise about $219 million in gross proceeds before redemptions, expenses and additional financing, according to a Nov. 12 Einride release. The deal is slated to close in the first half of 2026, subject to regulatory approvals.
Einride is also seeking up to $100 million in private investment in public equity (PIPE) and is further supported by $100 million in recent crossover funding from investors including EQT Ventures and NordicNinja. Existing Einride shareholders are expected to own roughly 83% of the combined company at closing, assuming the PIPE funding is completed. The boards of both companies unanimously approved the deal.
Founded in 2016, Einride provides autonomous and electric freight solutions, including technology, charging infrastructure and end-to-end logistics services, as part of its freight-as-a-service model. It operates a fleet of about 200 electric trucks and works with more than 25 enterprise customers. It has logged over 11 million electric miles, 1,700 autonomous hours and 350,000 shipments, according to the release.
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