EVgo shares lose charge as top holder to trim stake

Evgo

17/12/2024 12:28

**  Shares of electric-vehicle charging co EVgo  EVGO.O 
down 18.4% to $5.16 premarket on news of secondary offering
  
    ** Los Angeles, California-based firm late Mon  affiliate of
LS Power Equity Partners to sell 23 mln shares
  
    ** 
    LS Power owns 195.8 mln shares for 66.5% stake, per the 
  
    ** 
  
** On Thurs, co closed $1.25 bln guaranteed loan facility from
U.S. Department of Energy, which was first announced in early
Oct, to help expand public EV-charging infrastructure across the
country
     ** Through Mon, EVGO shares gained ~61% since Oct 2, the
day before the DOE loan was unveiled
  
    ** In 2024, stock has traded as low as $1.65 (Apr 25) and as
high as $9.07 (Oct 25)
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380 ))