CLII - EV fast charging company EVgo to go public via SPAC

EVgo, an LS Power Company, and leader in U.S. Electric vehicle fast charging to acquire Climate Change Crisis Real Impact I Acquisition (CLII) resulting in EVgo becoming a publicly listed company under the new ticker symbol “EVGO”.Anticipated net proceeds of ~$575M will be used to fully fund and accelerate EVgo’s growth strategy and network buildout, including a $400M fully committed private placement of common stock in EVgo.LS Power along with EVgo management, holds 100% of EVgo today, will be rolling 100% of their equity in the transaction and are expected to own ~74% of the company upon transaction close.Pro forma implied equity value of the combined company of $2.6B.The transaction is expected to close in the second quarter of 2021.CLII +43.7% premarket to $19.17Source: Press Release

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EV fast charging company EVgo to go public via SPAC