Self-driving trucks startup Einride plans to go public via a SPAC

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Einride said Wednesday it plans to go public via a merger with a special purpose acquisition company, just six weeks after the Swedish electric and autonomous truck startup raised $100 million from investors. The SPAC merger with Legato Merger Corp. values Einride at $1.8 billion in pre-money equity, according to the companies.

The deal is expected to generate about $219 million in gross proceeds, a figure that doesn’t take into account any redemption of Legato’s public shares. The company is also seeking up to $100 million in private…



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Self-driving trucks startup Einride plans to go public via a SPAC


Einride said Wednesday it plans to go public via a merger with a special purpose acquisition company, just six weeks after the Swedish electric and autonomous truck startup raised $100 million from investors. The SPAC merger with Legato Merger Corp. values Einride at $1.8 billion in pre-money equity, according to the companies.

The deal is expected to generate about $219 million in gross proceeds, a figure that doesn’t take into account any redemption of Legato’s public shares. The company is also seeking up to $100 million in private…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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