LS Power Proposes $2-Per-Share Buyout of EVgo’s Remaining Class A Shares

LS Power Equity Advisors, LLC proposed Monday to buy all Class A shares of EVgo Inc. that its group does not already own, offering $2 per share in cash in a nonbinding proposal to the company’s board. The proposal values the shares at a 59% premium to EVgo’s Oct. 30 closing price and a 62% premium to its 30-day volume-weighted average price as of that date. The group’s potential beneficial ownership totaled 178,682,352 shares, or 56.81% of combined voting power for EVgo’s Class A and Class B shares.

Source: TokenPost