EVgo, Inc. (EVGO) has secured its first $75 million disbursement from a $1.25 billion guaranteed loan provided by the U.S. Department of Energy’s (DOE) Loan Programs Office under the Title 17 Clean Energy Financing Program. The financial close for the loan was achieved in December 2024 after an extensive 18-month process.This initial funding, along with future drawdowns over a five-year deployment period, will support EVgo's efforts to expand its nationwide charging infrastructure. The company has already i ...

EVgo (EVGO 1.87%), a leading builder of EV charging networks, went public in July 2021 by merging with a special purpose acquisition company (SPAC). The combined company's stock opened at $15.05 on its first day, but it now trades at about $4.Like many other SPAC-backed EV companies, EVgo overpromised and underdelivered. In its pre-merger presentation, it claimed it could grow its revenue from an estimated $20 million in 2021 to $166 million in 2023. It got off to a good start by generating $22 million in r ...

Shares of electric vehicle (EV) charging company EVgo (EVGO -4.04%) fell as much as 30.4% in trading this week, according to data provided by S&P Global Market Intelligence, after an insider sold 23 million shares for $5 apiece.The big saleLS Power, which was EVgo's largest shareholder, announced an underwritten sale of 23 million shares on Monday. The sale was made at $5 per share with $4.8125 going to the seller and $0.1875 going to investment banks underwriting the deal. In a sale like this, the investme ...

EVGo (EVGO -27.56%) stock tumbled 27% through 10:05 a.m. ET Tuesday after the operator of charging stations for electric vehicles announced last night that EVgo Holdings, LLC, will sell at least 23 million new shares of common stock (and perhaps as many as 26.5 million) in a secondary offering. (We further learned this morning that the shares will be priced at $5 each). And here's the most important bit of news: EVgo Holdings and EVgo are not the same thing.Insider salesTo its credit, EVgo made this clear i ...

Key TakeawaysEVgo said its largest investor would be selling 23 million shares of Class A common stock.The electric charging station operator reported that EVgo Holdings, an affiliate of LS Power Equity Partners, would also offer underwriters a 30-day option to buy another 3.45 million shares.EVgo will receive no proceeds from the sale. Shares of EVgo (EVGO) shorted out when the electric vehicle (EV) charging station operator announced a secondary public offering of its stock by its largest investor. The c ...

U.S. stock futures were lower this morning, with the Dow futures falling around 150 points on Tuesday.Shares of Mama’s Creations Inc MAMA fell sharply in today's pre-market trading after the company reported worse-than-expected third-quarter EPS results.Mama`s Creations reported quarterly earnings of 1 cent per share which missed the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $31.52 million which beat the analyst consensus estimate of $30.05 million.Mama’s Creat ...

EVgo (NASDAQ: EVGO ) owns and operates DC fast charging (DCFC) infrastructure for electric vehicles throughout the US. EVgo has spent hundreds of millions in capex to build out the existing network of more than 3,680 operational stalls in 40 states, andAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in EVGO over ...

Key TakeawaysEVgo announced it had closed out a $1.25 billion loan facility with the Department of Energy to construct more EV charging stations.The company will use the money to deploy 7,500 chargers nationwide over the next five years.EVgo warned that its "business will be materially and adversely affected" if it fails to meet the conditions of the loan. EVgo (EVGO) shares went on a roller coaster ride Friday after the electric vehicle charging station maker received $1.25 billion in loan guarantees from ...

EVgo, Inc. (EVGO) has finalized a $1.25 billion guaranteed loan from the U.S. Department of Energy (“DOE”) Loan Programs Office under the Title 17 Clean Energy Financing Program. The loan features a 17-year term with capitalized interest during a five-year deployment period starting in 2025. This funding will support the construction of 7,500 new fast-charging stalls across the country, significantly expanding EVgo’s public charging network. By 2029, this expansion will bring EVGO’s owned and operated fast ...

EVgo Inc EVGO electrified investors by securing a $1.25 billion Department of Energy (DOE) loan guarantee. According to JPMorgan analyst Bill Peterson, this milestone sets EVgo up to deploy over 7,500 fast-charging stalls in five years and avoid equity dilution, marking a pivotal step in the company's growth story.Peterson, who recently upgraded EVgo to Overweight, called the loan closure "an early holiday gift to investors." Covering 80% of project costs, the DOE loan frees EVgo from raising additional equ ...