LEGATO MERGER CORP III SEC Filings

Einride is pursuing a proposed business combination with Legato Merger Corp. III to become a public company. The transaction is expected to deliver $333 million in gross proceeds, including a $113 million PIPE, and $220 million from Legato's cash-in-trust. The presentation cites $92 million of ARR in signed customer contracts and a $49 million run-rate operational ARR (data as of February 2026), and highlights $637 million of capital raised to date. The materials describe Einride's platform strategy—electric, autonomous and AI-driven freight—its FCaaS and licensing revenue models, and growth indicators such as 14.9M+ electric miles driven and expanding customer deployments.

Einride announces a strategic Memorandum of Understanding with SH 130 Concession Company to establish Segments 5 and 6 of State Highway 130 as an infrastructure-ready testbed for Einride’s cab-less autonomous electric freight vehicles. The collaboration targets safety validation on the Austin–San Antonio corridor and explores integrating high-capacity EV charging, specialized docking, and Einride’s Saga AI with SH 130’s digital ecosystem.

The release also reiterates Einride’s prior agreement to combine with Legato Merger Corp. III and states the transaction remains subject to customary closing conditions and regulatory approvals. The company cites ~25 enterprise customers, $65 million expected ARR from signed contracts, and over $800 million in potential long-term ARR through joint business plans.

Einride will host an analyst and investor day on March 19, 2026 as it advances toward a U.S. public market listing via a proposed business combination with Legato Merger Corp. III. The company says the listing process targets the first half of 2026 and notes a recently announced $113 million oversubscribed capital raise in connection with the proposed transaction. The live presentation from Austin, Texas will spotlight Einride’s electric and autonomous freight technology, U.S. commercialization strategy, and its relationship with customer GE Appliances. Completion of the transaction is stated to be subject to customary closing conditions, including regulatory approvals.

Legato Merger Corp. III amends its business combination with Einride and secures a concurrent PIPE. The parties reduced Einride's Equity Value from $1,800,000,000 to $1,350,000,000 pursuant to an amendment to the Business Combination Agreement.

Legato and Einride entered Subscription Agreements to sell an aggregate of 12,235,420 ADSs for $113.3 million and accompanying Warrants to purchase 18,353,130 ADSs, substantially concurrently with, and contingent upon, the closing of the Merger.

Legato Merger Corp. III disclosed changes to its planned business combination with Einride and new financing commitments. The parties amended their Business Combination Agreement to reduce Einride’s Equity Value from $1,800,000,000 to $1,350,000,000, lowering the agreed pre-money valuation.

Legato and Einride also entered into PIPE Subscription Agreements under which Einride will sell 12,235,420 American depositary shares for an aggregate purchase price of $113.3 million and issue Warrants to purchase an additional 18,353,130 ADSs at an exercise price of $10.90 per ADS, subject to various anti-dilution and price-adjustment features and beneficial ownership limits.

Einride and Legato Merger Corp. III announced an oversubscribed $113 million PIPE to support a proposed business combination. The companies say investors have committed approximately $213 million in aggregate financing, including a previously announced crossover of $100 million. The Transaction values Einride at a pre-money equity value of $1.35 billion and is expected to provide approximately $333m in gross proceeds, including $220 million of Legato cash-in-trust, before redemptions and transaction expenses. The combined company expects to list ordinary shares represented by ADSs and warrants on the New York Stock Exchange in the first half of 2026 under the proposed ticker ENRD.

Proceeds are described as intended to support Einride’s technology roadmap and global expansion, including autonomous deployments across North America, Europe, and the Middle East. A webcast investor presentation is scheduled for March 19, 2026.

Einride has carved out and divested its design organization, which was acquired by newly formed Navisalma Design on February 24, 2026. Einride retained a minority ownership stake and entered a three-year retainer agreement for brand, design, and marketing services. The divestment was completed at fair market value based on an independent third-party valuation.

The filing also reiterates the previously announced definitive business combination agreement with Legato Merger Corp. III, which remains subject to customary closing conditions, including regulatory approvals, with completion anticipated in the first half of 2026.

Legato Merger Corp. III received an updated Schedule 13G/A from several First Trust-related entities reporting sizable passive ownership stakes in its Ordinary Shares. As of December 31, 2025, First Trust Merger Arbitrage Fund held 1,183,566 Ordinary Shares, representing 4.59% of the class. First Trust Capital Management L.P., First Trust Capital Solutions L.P., and FTCS Sub GP LLC each reported beneficial ownership of 1,442,558 Ordinary Shares, or 5.59% of the class, with sole voting and dispositive power over those shares. The filers certify the holdings are in the ordinary course of business and not for the purpose of changing or influencing control of Legato Merger Corp. III.

Einride AB, a technology company focused on electric and autonomous freight, announced it has joined the European Connected and Autonomous Vehicle Alliance (ECAVA), a European Commission-facilitated forum shaping EU rules and deployment for connected and automated mobility.

The company highlights that it is the only autonomous freight operator in ECAVA, contributing experience from autonomous freight operations permitted in four EU countries and its vertically integrated model spanning vehicle hardware, autonomous software, fleet operations and logistics. Einride notes more than 25 enterprise customers across seven countries, approximately $65 million in expected annual recurring revenue from signed customer contracts, and over $800 million in potential long-term annual recurring revenue through joint business plans with large customers.

Einride also reiterates plans to pursue a public listing on the New York Stock Exchange through a proposed business combination with Legato Merger Corp. III, a special purpose acquisition company, and includes extensive forward-looking statement and risk disclosures related to completing the transaction, scaling its business, regulatory changes and other factors.