EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation.
The combined company, which will be listed under the new ticker symbol “EVGO” will have a market valuation of $2.6 billion. LS Power and EVgo management, which today own 100% of the company will be rolling all of its equity into the transaction. Once the transaction closes in the second quarter, LS Power will hold a 74% stake in the …
