EVgo (EVGO) Stock

EVgo (EVGO 1.87%), a leading builder of EV charging networks, went public in July 2021 by merging with a special purpose acquisition company (SPAC). The combined company's stock opened at $15.05 on its first day, but it now trades at about $4.

Shares of electric vehicle (EV) charging company EVgo (EVGO -4.04%) fell as much as 30.4% in trading this week, according to data provided by S&P Global Market Intelligence, after an insider sold 23 million shares for $5 apiece.

EVGo (EVGO -29.51%) stock tumbled 27% through 10:05 a.m. ET Tuesday after the operator of charging stations for electric vehicles announced last night that EVgo Holdings, LLC, will sell at least 23 million new shares of common stock (and perhaps as many as 26.5 million) in a secondary offering.

Shares of EVgo (EVGO) shorted out when the electric vehicle (EV) charging station operator announced a secondary public offering of its stock by its largest investor.

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”) announced today the pricing of the previously announced underwritten public secondary offering by EVgo Holdings, LLC, an affiliate of LS Power Equity Partners IV, L.P. (“LS Power”), of 23,000,000 shares of Class A common stock, par value $0.0001 per share (the “Class A Shares”), of the Company, at a public offering price of $5.00 per share. LS Power has granted the underwriters a 30-day option to purchase up to an.

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”) announced today that EVgo Holdings, LLC, an affiliate of LS Power Equity Partners IV, L.P. (“LS Power”), intends to offer for sale in an underwritten public secondary offering 23,000,000 shares of Class A common stock, par value $0.0001 per share (the “Class A Shares”) of the Company. LS Power expects to grant the underwriters a 30-day option to purchase up to an additional 3,450,000 Class A Shares at the public of.

EVgo's path to EBITDA breakeven by late 2025 is significantly strengthened by approval of the $1.25 DoE loan with favorable terms. The company faces significant cash burn but has seen revenue grow 10x since 2021, supported by rising EV adoption and ride-share electrification. EVgo's future profitability hinges on increasing throughput and utilization, with a fair valuation at $7 today and potential long-term value at $29 by 2035.

EVgo (EVGO) shares went on a roller coaster ride Friday after the electric vehicle charging station maker received $1.25 billion in loan guarantees from the federal government to build more chargers.

EVGO finalizes a $1.25 billion guaranteed loan from the U.S. Department of Energy to support the construction of 7,500 new fast-charging stalls across the country.