Einride to List on Nasdaq at $1.35B Valuation with $113M PIPE
AUR•Einride AB will merge with Legato Merger Corp. III to list on Nasdaq under proposed ticker ENRD at a $1.35 billion pre-money valuation, pending a June 4 shareholder vote. The deal includes a $113 million PIPE and $187.2 million trust cash, delivering ~$264.5 million to support expansion of electric and autonomous freight operations.
1. Transaction Overview
Einride AB and Legato Merger Corp. III will complete a business combination that lists Einride on Nasdaq as ENRD. Legato III shareholders will exchange their shares for Einride securities following a June 4 vote, and Legato’s trust account funds will transfer to the combined company.
2. Financing and Valuation
The transaction secures $113.3 million of PIPE commitments alongside $187.2 million of remaining trust cash, for approximately $264.5 million total proceeds after expenses. The deal values Einride at a $1.35 billion pre-money equity valuation and implies a $1.51 billion pro forma enterprise value.
3. Operational Metrics
Einride has raised $637 million to date, delivered over 14.9 million electric miles and executed 460,000 shipments across seven countries. The company holds $49 million in run-rate revenue and $92 million of ARR in signed contracts with 30 customers.
4. Technology Platform
Einride’s Saga platform integrates AI models, algorithms and real-world data to optimize electric and autonomous freight deployments. A three-year partnership with IonQ will explore quantum-enabled optimization across scheduling, load building and safety applications.
