EVgo Inc. Announces Secondary Offering of Class A Common Stock
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EVgo Inc. announced a secondary offering of 23 million Class A common stock shares by EVgo Holdings, LLC, an affiliate of LS Power. An additional 3.45 million shares may be offered to underwriters.
December 16, 2024 | 9:30 pm
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EVgo Inc. is conducting a secondary offering of 23 million Class A shares, potentially increasing to 26.45 million shares. This could lead to short-term stock price volatility.
The secondary offering increases the supply of EVgo's shares in the market, which can lead to a decrease in stock price due to dilution. The offering by a major shareholder, LS Power, may also signal a reduction in their stake, potentially affecting investor sentiment.
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IMPORTANCE 80
RELEVANCE 100