Shares of Climate Change Crisis Real Impact I Acquisition Corp. (CLII), a special purpose acquisition company, are surging more than 78 percent or $10.42 in Friday’s morning trade at $23.76, after hitting a new 52-week high of $24.00.
Friday, EVgo Services LLC, an electric vehicle or EV public fast charging network in the U.S. and a wholly-owned subsidiary of LS Power, and Climate Change Crisis Real Impact I Acquisition, said they have agreed for a business combination that would result in EVgo becoming a publicly listed company. The pro forma implied equity value of the combined company is $2.6 billion.
Upon closing, the combined company will be named EVgo Inc. and be listed under the new ticker symbol “EVGO”. The transaction is expected to close in the second quarter of 2021.
Climate Change Crisis Real Impact I has traded in a range of $9.75 to $24.00 in the past 52 weeks.
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