EVgo, which owns one of the United States’ biggest electric vehicle charging networks, is following in the footsteps of rival EV charging provider ChargePoint in seeking to become a publicly traded company via a special-purpose acquisition company (SPAC) reverse merger.
In EVgo’s case, its move to public markets will come along with a continuing financial relationship with its current owner: LS Power, one of the country’s biggest power generation, transmission and energy storage investors.
Under the terms of the deal announced Friday, EVgo will merge with Climate Change Crisis Real Impact I Acquisition Corp. (CRIS) in a transaction that will raise about $575 million, and value the company at about $2.6 billion.
EVgo to go public via SPAC in bid to power EV charging expansion
EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation.
The combined company, which will be listed under the new ticker symbol “EVGO” will have a market valuation of $2.6 billion. LS Power and EVgo management, which today own 100% of the company will be rolling all of its equity into the transaction. Once the transaction closes in the second quarter, LS Power and EVgo will hold a 74% stake in the newly combined company.
PIMCO Canada Corp. Announces Monthly Distributions for PIMCO Canada Closed End Funds
January 20, 2021 13:50 ET | Source: PIMCO Account Management PIMCO Account Management
Not for distribution to United States newswire services or for dissemination in the United States
TORONTO, Jan. 20, 2021 (GLOBE NEWSWIRE) PIMCO Canada Corp. (“PIMCO Canada”) is pleased to announce today that it has declared monthly distributions on its Class A Units (the “Units”) of the PIMCO Canada closed end funds (the “Funds”). The distributions will be paid on February 12, 2021 to the holders of record at the close of business on January 29, 2021.
Details of the distribution amounts are as follow:
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014. Further to the agreement for the sale of Non Performing Loans announced on 3 August 2020 ( Helix 2 Portfolio A ), Bank of Cyprus Holdings Public Limited Company ( BOC Holdings and, together with its subsidiaries, the Group ) has reached agreement with funds affiliated with Pacific Investment Management Company LLC ( PIMCO ), for the sale of an additional portfolio of Non Performing Loans ( Portfolio B ) with a gross book value of €545 mn
1,2 (known as Helix 2 Portfolio B , or the Transaction ). Portfolio B had a contractual balance of €783 mn
3 and comprises c.16,000 loans, mainly to Retail and SME clients, secured over c.4,000 real estate collaterals. The net book value of the assets being sold amounts to €244 mn