Stock Track | EVgo Stock Plunges 25% As Major Shareholder LS Power Launches Massive Stake Sale

Stock Track12-17

Electric vehicle charging company EVgo Inc. saw its stock plummet around 25% in Tuesday's pre-market trading, following the announcement of a major secondary share offering by its largest shareholder LS Power Equity Partners IV.

According to the company filings, EVgo Holdings LLC, an affiliate of LS Power which currently owns a 66.5% stake, plans to sell 23 million shares of EVgo's Class A common stock in an underwritten offering. This accounts for around 8% of EVgo's total outstanding shares.

LS Power, an early investor in EVgo which acquired the company in 2020 before its public debut, will receive all the proceeds from this share sale. The offering itself will not raise any new capital for EVgo's operations or expansion plans. However, the significant increase in outstanding shares is expected to massively dilute the holdings of existing investors, driving the steep sell-off seen in the stock price.

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1105765215?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-17 22:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1105765215","market":"hk","top_or_hot":-1,"title":"Stock Track | EVgo Stock Plunges 25% As Major Shareholder LS Power Launches Massive Stake Sale","media":"Stock Track","content":"<p>Electric vehicle charging company EVgo Inc. saw its stock plummet around 25% in Tuesday's pre-market trading, following the announcement of a major secondary share offering by its largest shareholder LS Power Equity Partners IV.</p>\n\n<p>According to the company filings, EVgo Holdings LLC, an affiliate of LS Power which currently owns a 66.5% stake, plans to sell 23 million shares of EVgo's Class A common stock in an underwritten offering. This accounts for around 8% of EVgo's total outstanding shares.</p>\n\n<p>LS Power, an early investor in EVgo which acquired the company in 2020 before its public debut, will receive all the proceeds from this share sale. The offering itself will not raise any new capital for EVgo's operations or expansion plans. However, the significant increase in outstanding shares is expected to massively dilute the holdings of existing investors, driving the steep sell-off seen in the stock price.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | EVgo Stock Plunges 25% As Major Shareholder LS Power Launches Massive Stake Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | EVgo Stock Plunges 25% As Major Shareholder LS Power Launches Massive Stake Sale\n</h2>\n\n<h4 class=\"meta\">\n\n2024-12-17 22:34 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Electric vehicle charging company EVgo Inc. saw its stock plummet around 25% in Tuesday's pre-market trading, following the announcement of a major secondary share offering by its largest shareholder ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EVGO","symbol_name":"EVgo Inc.","start_time":0,"source_url":"","article_id":"1105765215","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1105765215","pubTimestamp":1734446084,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Electric vehicle charging company EVgo Inc. saw its stock plummet around 25% in Tuesday's pre-market trading, following the announcement of a major secondary share offering by its largest shareholder LS Power Equity Partners IV.According to the company filings, EVgo Holdings LLC, an affiliate of LS Power which currently owns a 66.5% stake, plans to sell 23 million shares of EVgo's Class A common stock in an underwritten offering. This accounts for around 8% of EVgo's total outstanding shares.LS ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EVGO":"EVgo Inc."},"translate_title":"股票轨迹EVgo股价暴跌25%，主要股东LS Power启动大规模股权出售","themeId":"003cc08af04263ea1a93bfea7e213864","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EVGO":1},"content_text":"Electric vehicle charging company EVgo Inc. saw its stock plummet around 25% in Tuesday's pre-market trading, following the announcement of a major secondary share offering by its largest shareholder LS Power Equity Partners IV.\nAccording to the company filings, EVgo Holdings LLC, an affiliate of LS Power which currently owns a 66.5% stake, plans to sell 23 million shares of EVgo's Class A common stock in an underwritten offering. This accounts for around 8% of EVgo's total outstanding shares.\nLS Power, an early investor in EVgo which acquired the company in 2020 before its public debut, will receive all the proceeds from this share sale. The offering itself will not raise any new capital for EVgo's operations or expansion plans. However, the significant increase in outstanding shares is expected to massively dilute the holdings of existing investors, driving the steep sell-off seen in the stock price.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1105765215"}