EVgo Inc. Announces Offering of Class A Common Stock
May 16 2023 - 4:44PM
Business Wire
EVgo Inc. (NYSE: EVGO) (“EVgo” or the “Company”) announced today
the commencement of an underwritten public offering of $125,000,000
of shares of its Class A common stock, par value $0.0001 per share
(the “Class A common stock”). All of the shares of Class A common
stock to be sold in the offering will be offered by the Company.
The Company expects to grant the underwriters a 30-day option to
purchase up to an additional $18,750,000 of shares of Class A
common stock at the public offering price, less the underwriting
discounts and commissions. The Company intends to use the net
proceeds of the offering for general corporate purposes. The
offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
J.P. Morgan Securities LLC, Evercore Group L.L.C. and Goldman
Sachs & Co. LLC are acting as the underwriters for the
offering.
The Company has filed a registration statement (including a base
prospectus) and a preliminary prospectus supplement relating to
these securities with the Securities and Exchange Commission (the
“SEC”). The registration statement became effective on August 25,
2022. The offering is being made only by means of a prospectus
supplement (including the accompanying base prospectus), copies of
which may be obtained, when available, from J.P. Morgan Securities
LLC, Attention: Equity Syndicate Desk at 383 Madison Avenue, New
York, New York 10179, Evercore Group, L.L.C., Attention: Equity
Capital Markets, 55 East 52nd Street, 35th Floor, New York, New
York 10055 and Goldman Sachs & Co. LLC, 200 West Street, New
York, New York 10282-2198, Attention: Prospectus Department.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful without registration or
qualification under the securities laws of any such state or
jurisdiction.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building
and operating the infrastructure and tools needed to expedite the
mass adoption of electric vehicles for individual drivers,
rideshare and commercial fleets, and businesses. As one of the
nation’s largest public fast charging networks, EVgo’s owned and
operated charging network includes around 900 fast charging
locations, 60 metropolitan areas and 30 states.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, but are not limited to,
statements relating to the completion, timing and size of the
public offering, EVgo’s expectation to grant the underwriters a
30-day option to purchase additional shares and the anticipated use
of net proceeds from the offering. These forward-looking statements
are based on management’s current expectations or beliefs and are
subject to numerous assumptions, risks and uncertainties that could
cause actual results to differ materially from those described in
the forward-looking statements, including, without limitation,
risks and uncertainties related to EVgo’s ability to complete the
proposed offering on the anticipated terms or at all, market
conditions, and the satisfaction of closing conditions related to
the proposed public offering. Additional risks and uncertainties
that could affect the Company’s financial results are included
under the captions “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in
EVgo’s Annual Report on Form 10-K for the year ended December 31,
2022 and its Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2023 as well as its other filings with the SEC,
copies of which are available on EVgo’s website at
investors.evgo.com, and on the SEC’s website at www.sec.gov. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and EVgo does
not assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
applicable law.
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