Mentioned:
IONQ -13.52%
A new autonomous vehicle company is getting ready to make their Wall Street debut.
What’s happening:
- Swedish autonomous trucking company Einride has entered into a business combination agreement with Legato Merger Corp III (NYSE: LEGT) to become a publicly traded company
By the numbers:
- The new SPAC transaction gives Einride a pre money valuation of approximately $1.8B USD
- Einride will raise $100M USD concurrently with the SPAC deal and is expected to raise a total of $219M USD through completing the business combination
Why it matters:
- Einride is one of the most advanced autonomous driving companies in Europe focused on deploying electric heavy duty freight vehicles
Going deeper:
- Quantum computing company IonQ (NYSE: IONQ) previously made waves when they made a strategic investment into Einride alongside of Singapore’s sovereign wealth fund Temasek
