Appleby is pleased to announce that it has acted as Cayman Islands legal counsel to blank-check company Legato Merger Corp. III (Legato Merger) in connection with its proposed business combination with Einride AB (Einride), a Swedish technology company that develops and operates digital, electric, and autonomous freight solutions, valued at USD 1.8 billion.
Einride is set to go public on the New York Stock Exchange through its business combination with Legato Merger. The transaction is expected to raise USD 219 million in gross proceeds, with up to an additional USD 100 million in PIPE capital from institutional investors, with Einride to begin trading during the first half of 2026. Einride is anticipated to begin trading during the first half of 2026.
Appleby acted as legal advisor on the Cayman Islands aspects of the transaction, drawing on its extensive experience in cross-border SPAC mergers and capital markets transactions.
The team was led by Counsel Alexandra Low, with Partner Simon Raftopoulos, and other members of the corporate team.
This transaction marks another milestone in Appleby's market-leading record, further strengthening its expertise in advising on high-profile business combination transactions, as well as capital markets deals.