EVgo Inc. Announces Pricing of Offering of Class A Common Stock
May 17 2023 - 10:02PM
Business Wire
EVgo Inc. (Nasdaq: EVGO; “EVgo” or the “Company”) announced
today the pricing of an underwritten public offering of 29,411,765
shares of its Class A common stock, par value $0.0001 per share
(the “Class A common stock”), at $4.25 per share. The net proceeds
to the Company from the offering, after deducting underwriting
discounts and commissions but before other offering expenses, are
expected to be approximately $121 million. EVgo has granted the
underwriters a 30-day option to purchase up to an additional
4,411,764 shares of Class A common stock. EVgo intends to use the
net proceeds of this offering for general corporate purposes.
J.P. Morgan, Evercore ISI and Goldman Sachs & Co. LLC are
acting as lead book-running managers for the offering. BofA
Securities, Citigroup, UBS Investment Bank and RBC Capital Markets
are acting as book-running managers for the offering. Needham &
Company, Roth Capital Partners, Stifel, Capital One Securities,
Northland Capital Markets, Loop Capital Markets and Siebert
Williams Shank are acting as co-managers 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, J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com, Evercore Group, L.L.C., Attention:
Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York,
New York 10055, or by telephone at (888) 474-0200 or email:
ecm.prospectus@evercore.com, and Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, New
York 10282-2198, or by telephone: (866) 471-2526 or email:
Prospectus-ny@ny.email.gs.com.
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 of the public offering 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
the satisfaction of closing conditions related to the 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230517005873/en/
For Investors: investors@evgo.com For Media: press@evgo.com
EVgo (NASDAQ:EVGO)
Historical Stock Chart
From May 2024 to Jun 2024
EVgo (NASDAQ:EVGO)
Historical Stock Chart
From Jun 2023 to Jun 2024