Legato Merger Corp. III
Legato Merger Corp. III was a Cayman Islands-incorporated, NYSE American-listed SPAC (ticker LEGT) formed in 2024 with ~$216.8 million in trust to acquire a private company. It completed a business combination with Swedish electric and autonomous freight company Einride AB in June 2026, after which Legato III ceased to exist as a standalone entity.
- Company typePublic
- Founded2024
- HeadquartersStockholm, Sweden
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Legato Merger Corp. III does
Legato Merger Corp. III was a Cayman Islands-incorporated, NYSE American-listed special purpose acquisition company (SPAC) that went public in February 2024 under ticker LEGT, raising approximately $216.8 million into its trust account. The company had no operating business, products, or technology of its own; its sole commercial activity was the identification, negotiation, and consummation of a business combination with a private target. Sponsor management was provided by Crescendo Partners, L.P., with a team led by Chairman Brian Pratt (former CEO/Chairman of Primoris Services Corp.), Chief SPAC Officer Eric Rosenfeld, CEO Gregory Monahan, Vice Chairman David Sgro, and CFO Adam Jaffe — a roster with serial SPAC experience across Legato I & II, Allegro, and Harmony.
On November 12, 2025, Legato III entered into a definitive business combination agreement with Einride AB, a Swedish electric and autonomous freight technology company, at an initial $1.8 billion pre-money equity valuation (later revised to $1.35 billion). Einride supplemented the trust proceeds with an oversubscribed $113 million PIPE financing co-led by EQT Ventures and a U.S. West Coast-based asset manager, announced February 26, 2026. Following shareholder approval on June 4, 2026, the merger closed on June 9, 2026; the combined company began trading on Nasdaq on June 10, 2026 under ticker symbols ENRD and ENRDW.
As a SPAC, Legato III derived no operating revenue, sold no products or services, and did not serve traditional end customers. Its customer-facing analog was the pool of private target companies it pursued; the company explicitly targeted private firms with equity values exceeding $400 million in infrastructure, engineering and construction, industrial, and renewables sectors. Post-merger, Legato Merger Corp. III ceased to exist as a standalone entity, with all assets, liabilities, and capital deployed into the Einride AB public listing.
Legato Merger Corp. III firmographics
Firmographics- Name
- Legato Merger Corp. III
- Legal name
- Legato Merger Corp. III
- Website
- https://legatomerger.com
- Company type
- Public
- Founded year
- 2024
- Operating status
- Ipo
- Headcount range
- 251–500 employees
- Short description
- Legato Merger Corp. III was a Cayman Islands-incorporated, NYSE American-listed SPAC (ticker LEGT) formed in 2024 with ~$216.8 million in trust to acquire a private company. It completed a business combination with Swedish electric and autonomous freight company Einride AB in June 2026, after which Legato III ceased to exist as a standalone entity.
- Ownership category
- akta.pro rank
Legato Merger Corp. III industry classification
Industry- Product category
- Special Purpose Acquisition Company (SPAC) Financial Services
- NAICS
- Investment Banking and Securities Intermediation (52315)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)
- akta.pro secondary industries
- Block Trades & Accelerated Bookbuilds (ABB) (FSACAAAE), Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)
Keywords
Where Legato Merger Corp. III is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Legato Merger Corp. III business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Distribution channels1 record
Marketing channels1 record
Legato Merger Corp. III product offering
Product offeringCore offering
Legato Merger Corp. III is a Special Purpose Acquisition Company (SPAC) that raised approximately $216.8 million in its IPO trust account to identify and merge with a private target company with an equity value greater than $400 million. The SPAC's sole commercial activity was executing a business combination with Einride AB, which closed on June 9, 2026, taking the Swedish freight technology company public on Nasdaq under tickers ENRD and ENRDW.
Product overview
Legato Merger Corp. III is a Special Purpose Acquisition Company (SPAC) incorporated in the Cayman Islands, listed on NYSE American under ticker LEGT, with approximately $216.8 million in its trust account as of August 31, 2025. The company went public in February 2024 with the intent to merge with a private company having an equity value in excess of $400 million, focusing on target businesses in the infrastructure, engineering and construction, industrial, and renewables industries. Legato Merger Corp. III has no standalone products, services, or technology offerings; its sole commercial activity is the execution of the business combination with Einride AB, completed on June 9, 2026.
Differentiator
Problem solved
Functional benefit
Companies that use Legato Merger Corp. III
Customer profileSegments1 record
Ideal customer profiles2 records
Legato Merger Corp. III technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Legato Merger Corp. III partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Einride ABflagshipLegato Merger Corp. III entered into a definitive business combination agreement with Einride AB, a Swedish technology company specializing in electric and autonomous freight solutions. The transaction valued Einride at approximately $1.35 billion pre-money equity. The merger was approved by Legato shareholders on June 4, 2026, and trading began on Nasdaq on June 10, 2026 under ticker symbols ENRD and ENRDW. The deal included $113 million in oversubscribed PIPE financing.
Scale indicators2 records
Recent moves7 records
Expansion highlights4 records
Legato Merger Corp. III competitors and assessment
Company assessmentEmerging players
- Pagaya Technologies: Israeli fintech that went public via SPAC merger with ExcelFin Acquisition Corp., a relevant reference point for private companies that chose the de-SPAC path over traditional IPO during the 2021-2026 period. Comparable in mechanism and post-merger capital structure but operates in a different industry vertical.
- Virgin Galactic Holdings: Went public via SPAC merger with Social Capital Hedosophia, a high-profile SPAC reference comparable in mechanism (SPAC IPO, definitive agreement, PIPE, close) but in a different industry. Useful as a structural process benchmark rather than business comparable.
Direct peers
- Allegro Merger Corp. Another Crescendo Partners-sponsored SPAC with overlapping leadership (Adam Jaffe serves as CFO of both Allegro and Legato III). Comparable in mandate, structure, and sponsor economics; another data point in the serial SPAC franchise led by Crescendo.
- Legato Merger Corp. IV: Same sponsor (Crescendo Partners) and same team running a follow-on SPAC vehicle that closed at $230M in January 2026, targeting infrastructure, industrial, AI, and technology businesses. Effectively a sister vehicle with identical structure, management, and process — the most direct structural comparable.
- Harmony Merger Corp. Prior Crescendo Partners-affiliated SPAC that merged with NextDecade, with Adam Semler serving as a board member. Demonstrates the same sponsor playbook — finding an infrastructure/industrial target and de-SPAC'ing — and provides a public-market performance benchmark for the Legato franchise.
Others
- Jamarant Capital / Jamarant Advisors: Affiliated investment firm where several Legato III officers hold roles (Gregory Monahan as Portfolio Manager; Adam Jaffe as CFO/CCO; David Sgro as Director of Research). Not a SPAC peer, but a tightly coupled entity providing team continuity across the Legato franchise.
- Crescendo Partners, L.P. The merchant banking firm that sponsors Legato III (and several other Legato/Allegro/Harmony SPACs). Not a competing SPAC, but the closest non-vehicle analogy — the parent entity providing sponsor capital, management, and pipeline to each SPAC.
Broad incumbents
- Pershing Square Tontine Holdings: Large, well-known SPAC sponsored by Bill Ackman that ultimately liquidated in 2022 rather than completing a business combination. Comparable as a SPAC vehicle but a counter-example showing failure mode — illustrates the downside risk inherent in the structure Legato III employed.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat3 records
Key risks4 records
Key highlights5 records
Customer concentration
Legato Merger Corp. III social profiles
Digital presenceLegato Merger Corp. III financial estimates
Financial estimateRevenue estimate
Valuation estimate
Legato Merger Corp. III leadership team
Management profileNumber of profiles
Profiles7 records
Legato Merger Corp. III funding detail
Funding detailFunding overview
Funding rounds14 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Legato Merger Corp. III M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Legato Merger Corp. III
What does Legato Merger Corp. III do?
Legato Merger Corp. III is a Special Purpose Acquisition Company (SPAC) that raised approximately $216.8 million in its IPO trust account to identify and merge with a private target company with an equity value greater than $400 million. The SPAC's sole commercial activity was executing a business combination with Einride AB, which closed on June 9, 2026, taking the Swedish freight technology company public on Nasdaq under tickers ENRD and ENRDW.
Is Legato Merger Corp. III a public or private company?
Legato Merger Corp. III is a public company. It is classified as public and is currently ipo.
When was Legato Merger Corp. III founded?
Legato Merger Corp. III was founded in 2024. It employs 251 to 500 people.
Where is Legato Merger Corp. III based?
Legato Merger Corp. III is headquartered in Stockholm, Sweden, in the Europe region.
Who are Legato Merger Corp. III's main competitors?
Emerging players on record are Pagaya Technologies and Virgin Galactic Holdings. Direct peers are Allegro Merger Corp., Legato Merger Corp. IV and Harmony Merger Corp.. Others are Jamarant Capital / Jamarant Advisors and Crescendo Partners, L.P.. Pershing Square Tontine Holdings is listed as a broad incumbent.
Does Legato Merger Corp. III have an API?
No public API is recorded for Legato Merger Corp. III.
What industry is Legato Merger Corp. III in?
Legato Merger Corp. III's product category is Special Purpose Acquisition Company (SPAC) Financial Services. Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory), with a secondary code of FSACAAAE, Block Trades & Accelerated Bookbuilds (ABB). Its NAICS code is 52315 and its SIC code is 6211.