EVgo Inc. (EVGO) said Monday that EVgo Holdings LLC, an affiliate of LS Power Equity Partners IV, plans to offer for sale in an underwritten public secondary offering 23 million shares of class A common stock of EVgo Inc.
LS Power will give underwriters a 30-day option to buy up to an additional 3.45 million shares, EVgo said.
No shares are being sold by EVgo, the company said, adding LS Power will receive all proceeds from the sale.
The company said the offering is subject to market conditions, and there is no assurance as to whether or when it may be completed, or as to its size or terms.
EVgo shares were falling past 13% in recent after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.