LS Power proposes $2‑per‑share take‑private offer for EVgo
LS Power Equity Advisors offered to buy all EVgo Class A shares it does not already own for $2.00 in cash per share. The controlling shareholder already holds roughly 56% of EVgo’s voting power and has formed a special committee of independent directors to evaluate the non‑binding proposal. The offer represents a 59% premium to EVgo’s October 30 close and a 62% premium to its 30‑day volume‑weighted average price. EVgo’s shares jumped about 47%‑53% on the news.
Why it matters
The proposal gives shareholders a concrete valuation reference and, if approved, would take EVgo private and delist it from Nasdaq, affecting liquidity and share price dynamics. Until a definitive agreement is reached, the stock is likely to trade at a discount to the offer price.
Key facts
- 1LS Power offered $2.00 per Class A share in cash for EVgo shares it does not already own. finance.biggo.com
- 2LS Power and its affiliates hold about 178 million shares, roughly 56% of EVgo’s voting power. finance.biggo.com
- 3The offer price is a 59% premium to EVgo’s October 30 close. finance.biggo.com
- 4The offer price is a 62% premium to EVgo’s 30‑day volume‑weighted average price. tradingview.com
- 5Trading volume swelled to about 58.56 million shares, roughly 16 times the 100‑day average of 3.67 million. finance.biggo.com
- 6EVgo’s board has formed a special committee of independent directors to review the proposal, with no decision made yet. stocktitan.net
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.