Autonomous EV trucking company Einride going public in SPAC deal valuing it at $1.8 billion

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Autonomous EV freight trucking company Einride is planning to go public on the New York Stock Exchange through a SPAC deal with Legato Merger Corp. III

, a blank check company, valuing it at $1.8 billion.

The deal is expected to raise $219 million in gross proceeds, with up to an additional $100 million in PIPE capital from institutional investors, with Einride to begin trading during the first half of 2026.

In announcing its plans, the Stockholm, Sweden-based company reported a contracted annual recurring revenue base of $65 million and over $800 million in potential long-term ARR.