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Climate change crisis actions Real impact I Acquisition Corp. CLII,
On Friday, the Special Purpose Acquisition Company (SPAC) announced a deal in which EVgo Services LLC goes public. EVgo, which boasts of being the “largest public electric vehicle (EV) fast-charging network in the country,” said it expects $ 575 million in revenue from the merger operation, values the company combined to $ 2.6 billion. Following closing of the deal, which is expected to take place in the second quarter of 2021, the merged company will be called EVgo Inc. and the stock will trade under the ticker symbol “EVGO”. EVgo said it has more than 800 charging points in 67 metro markets across 34 states. “Time is precious to all of us, which is why a public fast-charging option with a growing footprint like EVgo is critical to meeting the rapidly growing needs of electric vehicle drivers of all types,” said Cathy Zoi, Director general of EVgo. PSPC stock, which went public on Nov. 20, rose 24.6% year-to-date through Thursday, while Renaissance IPO ETF’s IPO,
gained 8.4% and the S&P 500 SPX,
nailed 2.6%.
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