Add as a preferred source on GoogleLS Power Proposes $2-Per-Share Buyout of EVgo’s Remaining Class A Shares
The nonbinding proposal covers shares not held by LS Power’s group and requires a recommendation from an independent committee before it proceeds.
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.
The proposal outlines an expected long-form merger and is contingent on a recommendation from a fully empowered committee of independent and disinterested directors. LS Power reserved the right to change or withdraw the proposal. No definitive transaction agreement or completion timetable was disclosed.
EVgo plans to release its third-quarter 2026 results Monday, Nov. 9.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.