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EVgo to go public via SPAC in bid to power EV charging expansion

EVgo to go public via SPAC in bid to power EV charging expansion

3 years ago
Anonymous $y15ULlV7sG

https://techcrunch.com/2021/01/22/evgo-to-go-public-via-spac-in-bid-to-power-ev-charging-expansion/

EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation.

The combined company, which will be listed under the new ticker symbol “EVGO” will have a market valuation of $2.6 billion. LS Power and EVgo management, which today own 100% of the company will be rolling all of its equity into the transaction. Once the transaction closes in the second quarter, LS Power will hold a 74% stake in the newly combined company.

EVgo to go public via SPAC in bid to power EV charging expansion

Jan 22, 2021, 6:15pm UTC
https://techcrunch.com/2021/01/22/evgo-to-go-public-via-spac-in-bid-to-power-ev-charging-expansion/ > EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation. > The combined company, which will be listed under the new ticker symbol “EVGO” will have a market valuation of $2.6 billion. LS Power and EVgo management, which today own 100% of the company will be rolling all of its equity into the transaction. Once the transaction closes in the second quarter, LS Power will hold a 74% stake in the newly combined company.