EVgo Inc. to Sell Shares

LOS ANGELES – EVgo Inc. (NASDAQ: EVGO), a network operator of electric vehicle charging stations, has announced that its affiliate, EVgo Holdings, LLC, under LS Power Equity Partners IV, L.P., is preparing to sell 23 million shares of Class A common stock in a secondary public offering.

The affiliate also plans to give underwriters an option to purchase an additional 3.45 million shares. This sale will not include any shares from EVgo itself, meaning the company will not gain financially from the offering.

This transaction is contingent on market conditions, with no guarantee regarding its completion or specific terms. All proceeds from the sale will go to LS Power, leaving EVgo without any financial benefits from this event.

Following the announcement, EVgo's stock experienced a drop of approximately 15%.

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