10% owner EVgo Holdings sells entire 23,000,000 share stake at $5.00 for $115.0M, exiting company entirely
EVgo Holdings, a 10% owner, completely liquidated its entire position of 23,000,000 shares at $5.00 per share on 2024-12-18, reducing holdings from 23,000,000 shares to zero shares. The transaction totaled $115,000,000.00 and represents a full divestiture by the major shareholder. The sale occurred at a price that is now -53.1% above the current price of $4.19, and the stock has declined -34.4% over the 30-day period and -41.8% over the 90-day period since the transaction. Against the context of the company's unprofitable full-year performance, negative net income of $-11,709,000.00 in the latest quarter despite strong revenue growth of +194.8% year-over-year, the complete exit of a major institutional stakeholder signals a significant shift in capital structure and ownership composition.