Filed by Einride AB
Pursuant to Rule 425 under the Securities Act
of 1933,
as amended, and deemed filed under Rule 14a-12
under the Securities Exchange Act of 1934, as
amended
Subject Company: Legato Merger Corp. III
Commission File No.: 001-41945
Set forth below is a press release issued by Einride AB on March
26, 2026.
Einride Electrifies Regional Deliveries for Coop Grocery Stores
in Sweden
STOCKHOLM, March 26, 2026
-- Einride AB (“Einride” or the “Company”), a technology company driving the transition to cost-efficient
electric and autonomous freight operations for some of the world’s largest shippers, announced today that it has enabled Coop, one
of Sweden’s leading consumer-owned grocery chains, to transition to fully electric deliveries across all of its grocery stores in
the Uppland region, north of Stockholm.
The initiative is powered by
Einride’s intelligent freight mobility ecosystem, which integrates electric trucks and charging infrastructure with the Company’s
proprietary AI-powered planning and optimization platform, Saga AI. By leveraging operational and customer data within Einride’s
digital and electric freight system, Saga AI enables shippers to meet transport demand with fewer vehicles, lower energy consumption,
and reduced
overall transport costs.
“This milestone with Coop
underscores the power of Einride’s freight mobility platform,” said Roozbeh Charli, Chief Executive Officer of Einride. “Transitioning
an entire region to electric deliveries demonstrates our ability to deploy integrated hardware, software, and infrastructure in a way
that improves fleet productivity.”
The collaboration between Einride and Coop illustrates how digitalization
and electrification can be rapidly scaled within regional transport networks, offering a model for grocery and consumer-goods distribution
globally. The transition covers deliveries to 23 Coop grocery stores in Sweden’s Uppland region, encompassing more than 659,000
transport kilometers annually.
By shifting these routes from diesel to electric,
Coop and Einride expect to remove approximately 912 tons of CO₂ emissions per year, equivalent to removing 596
petrol cars from Swedish roads(1), supporting Coop’s strong commitment to sustainability and broader goals for
fossil-free transport by 2030. The deployment is set to reach full scale in the first half of 2026.
“At Coop, we believe that every delivery can make a difference
for our customers and the local community,” said Peter Rosendahl, head of Transport at Coop
Sweden. “By partnering with Einride, we are taking a major step towards reducing our carbon footprint and proving that climate-smart
logistics can go hand in hand with reliable grocery deliveries.”
Einride has established strong
commercial traction, with more than 30 enterprise customers across seven countries, approximately $92 million in expected annual recurring
revenue (ARR) from signed customer contracts, and over $800 million in potential long-term ARR through joint business plans with blue-chip
customers. In the fourth quarter of 2025, the Company announced its plans for a public listing via its proposed business combination
with Legato Merger Corp. III (NYSEAMERICAN: LEGT), a special purpose acquisition company (“Legato”).
| (1) | https://www.trafa.se/globalassets/statistik/vagtrafik/korstrackor/2023/korstrackor-2023.pdf,
|
| | https://www.transportstyrelsen.se/sv/om-oss/statistik-och-analys/statistik-inom-vagtrafik/statistik-over-koldioxidutslapp/statistik-over-koldioxidutslapp-2023/ |
About Einride
Founded in 2016, Einride is a
technology company that develops and operates digital, electric and autonomous freight solutions to accelerate the transition to future
proofed transportation in a cost-efficient way. Its technology platform includes AI powered planning and optimization, autonomous technologies,
one of the world’s largest electric heavy-duty fleets and charging infrastructure. Einride is serving customers across North America,
Europe and the Middle East.
On November 12, 2025, Einride
and Legato announced they had entered into a definitive business combination agreement for a proposed business combination (the “Transaction”)
that would result in Einride becoming a NYSE-listed public company. The Transaction was unanimously approved by the Boards of Directors
of Legato and Einride. Completion of the Transaction is anticipated to occur in the first half of 2026 subject to customary closing conditions,
including regulatory approvals.
About Legato Merger Corp.
III:
Legato is a blank check company
organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with
one or more businesses or entities.
Forward-Looking Statements
This communication contains
certain “forward-looking statements” within the meaning of U.S. federal securities laws including, but not limited to,
statements regarding the Transaction with Legato and Einride’s expected and potential ARR, as applicable. These
forward-looking statements generally are identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,”
“will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking
statements are based on current expectations and assumptions available to the Company and Legato, and, as a result, are subject to
risks and uncertainties. Any such expectations and assumptions, whether or not identified in this communication, should be regarded
as preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results.
Many factors could cause actual future events to differ materially from the forward-looking statements in this communication,
including but not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination
of definitive agreements with respect to the Transaction; (2) the outcome of any legal proceedings that may be instituted against
Legato, Einride, the combined company or others following the announcement of the Transaction and any definitive agreements with
respect thereto; (3) the amount of redemption requests made by Legato public shareholders and the inability to complete the
Transaction due to the failure to obtain approval of the shareholders of Legato, to obtain financing to complete the Transaction or
to satisfy other conditions to closing; (4) risks related to the scaling of the Company’s business and the timing of expected
business milestones; (5) the ability to meet stock exchange listing standards following the consummation of the Transaction; (6) the
risk that the Transaction disrupts current plans and operations of the Company as a result of the announcement and consummation of
the Transaction; (7) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among
other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with
customers and suppliers and retain its management and key employees; (8) costs related to the Transaction; (9) risks associated with
changes in laws or regulations applicable to the Company’s solutions and services and the Company’s international
operations; (10) the possibility that the Company or the combined company may be adversely affected by other economic, geopolitical,
business, and/or competitive factors; (11) supply shortages in the materials necessary for the production of Einride’s
solutions; (12) negative perceptions or publicity of the Company; (13) risks related to working with third-party manufacturers for
key components of Einride’s solutions; (14) the termination or suspension of any of Einride’s contracts or the reduction
in counterparty spending; and (15) the ability of Einride or the combined company to issue equity or equity- linked securities in
connection with the business combination or in the future.
Forward-looking statements are
not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties that will
be described in the “Risk Factors” section of the Company’s registration statement on Form F-4 to be filed by the Company
with the U.S. Securities and Exchange Commission (the “SEC”), and other documents filed by the Company and/or Legato from
time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and
results to differ materially from those contained in the forward-looking statements. Forward- looking statements speak only as of the
date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and all forward-looking statements
in this communication are qualified by these cautionary statements. The Company and Legato assume no obligation and do not intend to update
or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent
required by applicable law. Neither the Company nor Legato gives any assurance that either the Company or Legato will achieve its expectations.
The inclusion of any statement in this communication does not constitute an admission by the Company or Legato or any other person that
the events or circumstances described in such statement are material.
Additional Information and
Where to Find It
In connection with the Transaction,
the Company intends to file a registration statement on Form F-4 with the SEC that will include a proxy statement of Legato and a prospectus
of the Company. After the registration statement is declared effective, the definitive proxy statement/prospectus will be sent to all
Legato shareholders as of a record date to be established for voting on the Transaction. Legato also will file other documents regarding
the Transaction with the SEC. This communication does not contain all the information that should be considered concerning the Transactions
and is not intended to form the basis of any investment decision or any other decision in respect of the Transaction. Before making any
voting or investment decision, investors and shareholders of Legato are urged to read the registration statement, the proxy statement/prospectus
and all other relevant documents filed or that will be filed with the SEC in connection with the Transaction as they become available
because they will contain important information about the Transaction. Investors and shareholders will be able to obtain free copies of
the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Legato
through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Legato may be obtained by written request
to Legato at Legato Merger Corp. III, 777 Third Avenue, 37th Floor, New York, NY 10017.
Participants in the Solicitation
Legato and the Company and their
respective directors and officers may be deemed to be participants in the solicitation of proxies from Legato’s shareholders in
connection with the Transaction. Information about Legato’s directors and executive officers and their ownership of Legato’s
securities is set forth in Legato’s filings with the SEC. Additional information regarding the interests of those persons and other
persons who may be deemed participants in the Transaction may be obtained by reading the proxy statement/prospectus regarding the Transaction
when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully
when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents as described
in the preceding paragraph.
No Offer or Solicitation
This communication does not constitute
a solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the Transaction and shall not constitute
an offer to sell or a solicitation of an offer to buy the securities of Legato, Einride or the combined company resulting from the Transaction,
nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of the Securities Act. This communication is restricted by law; it is not intended for
distribution to, or use by any person in, any jurisdiction in where such distribution or use would be contrary to local law or regulation.
Investor & Media Contacts
Einride
Christina Zander
Head of Communications Einride
press@einride.tech
Einride@icrinc.com
Legato Merger Corp. III
Eric Rosenfeld
Chief SPAC Officer
Legato Merger Corp. III
ir@legatomerger.com
