EVgo Stock Plummets as Biggest Investor Sells 23M Shares
EVgo (EVGO) Investopedia·2024-12-17 15:26
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 ...