The shares, listed under the ticker symbol EVGO, opened at $15 and peaked mid-morning at $16.10, before closing at $15.10. EVgo’s trading volume for the day was more than 3.7 million.
EVgo announced plans to go public through a merger with Climate Change Crisis Real Impact I Acquisition Corp., a special purpose acquisition company, in January. The day before EVgo’s debut, shares for Climate Change, under the symbol CLII, closed at $14.36.
The companies completed the merger on June 29 and changed the name to EVgo Inc. The merger valued EVgo at $2.6 billion, with the company expecting to receive $575 million in proceeds from the transaction.
“The completion of our business combination represents a critical milepost in EVgo’s ongoing evolution,” Cathy Zoi, chief executive of EVgo, said in a statement. “With our new public platform, we are armed with greater resources and are more motivated than ever to make it easier for drivers to go electric.”
EVgo was founded in 2010. It operates more than 800 charging stations across 34 states, serving around 220,000 customers in 67 metropolitan areas, according to the company. Only CharePoint and Tesla Inc. have more charging stations.
EVgo has scored several partnerships in the past year with companies such as BMW and Meijer Inc.
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