EVgo Inc. (Nasdaq: EVGO) (Company), one of the nation’s largest public fast charging networks for electric vehicles, announced the pricing on May 17, 2023 of an underwritten public offering of 29,411,765 shares of its Class A common stock at a price to the public of US$4.25 per share. J.P. Morgan, Evercore ISI, and Goldman Sachs & Co. LLC acted as lead book-running managers for the offering; BofA Securities, Citigroup, UBS Investment Bank, and RBC Capital Markets acted as book-running managers for the offering; and Needham & Company, Roth Capital Partners, Stifel, Capital One Securities, Northland Capital Markets, Loop Capital Markets, and Siebert Williams Shank acted as co-managers for the offering. The underwriters have a 30-day option to purchase up to an additional 4,411,764 shares of the Company’s common stock. The offering closed on May 22, 2023.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by Houston partner Ryan Maierson and Austin partner Mollie Duckworth, with New York associate Tina Jeon, Houston associates Zainab Hashmi and Wole Oluborode, and Austin associate Pia Kaur. Advice was also provided on tax matters by Houston partner Tim Fenn, with Houston associate Christine Mainguy; on environmental matters by Los Angeles/Houston partner Josh Marnitz, with Washington, D.C. associate Nathaniel Glynn; on sanctions matters by Washington, D.C. associate Matthew Gregory; on intellectual property matters by Bay Area partner Michelle Gross, with New York associate Pelin Serpin; and on data privacy matters by Boston associate Kiara Vaughn.