Einride, a Global Leader in Autonomous and Electric Freight, Completes Business Combination and Will Begin Trading on Nasdaq Stock Market

Dana Inc. will buy Eaton Mobility for $1.1 billion, combining Eaton’s transmissions, engines, emissions and electrification with Dana’s powertrain business; the expanded company is estimated to reach about $11 billion in sales in 2026. Mack and Volvo issued recalls warning nearly 800 trucks may have loose lug nuts. Einride AB completed a SPAC to list on Nasdaq (ENRD), with market cap about $1.32B. U.S. on-highway diesel averaged $5.06 (EIA).

Einride AB said it has closed its business combination with Legato Merger Corp. III, approved by Legato shareholders on June 4, 2026. Einride American depositary shares and warrants are expected to start trading on Nasdaq on June 10 under ENRD and ENRDW. The deal values Einride at about $1.35 billion and includes a $113 million oversubscribed PIPE, according to the company.

Legato Merger Corp. III said shareholders approved its business combination with Einride on June 4, 2026. The deal values Einride at a $1.35 billion pre-money equity value and includes a $113 million oversubscribed PIPE. After closing, Einride’s shares and warrants are expected to trade on Nasdaq as ENRD and ENRDW, respectively.

Einride AB (ENRD) plans to go public via a business combination with Legato Merger Corp. III, expected to list on Nasdaq. The report says ENRD has 30 customers in seven countries, $49m run-rate operational revenue, $92m signed contract ARR, and $800m+ potential long-term ARR. 2025 revenue rose 18% y/y to SEK 457.8m, with net loss of SEK 1,721.7m. Pro forma EV is ~$1.51b.

Einride AB said it has partnered with TÜV SÜD to launch an independent assessment of its Safety Management System for autonomous commercial vehicles. TÜV SÜD will review the company’s safety governance model, including change management and safety accountability, against emerging regulations and industry standards. Einride said the validated SMS will support regulator demonstrations when technology or operations change.

KORE Group (NYSE:KORE) stockholders approved the merger agreement with Searchlight and Abry-backed entities, according to the preliminary inspector of election report. Stockholders also approved an advisory, non-binding executive compensation proposal. The advisory vote is not a condition to merger completion, and final results will be filed after the meeting.