Electric vehicle charging station provider EVgo is going public, joining a wave of companies in the electric vehicle industry hoping to ride on Tesla's soaring stock growth over the last year.
The Los Angeles-based startup, which operates a nationwide fast-charging network for electric vehicles, announced Friday it's going public through a merger with a special purpose acquisition company that will generate about $575 million in net proceeds.
The electric car company Canoo made a weak Wall Street debut on Tuesday after completing a reverse merger with Hennessy Capital Acquisition.
The Torrance-based startup, trading on the Nasdaq under the ticker symbol GOEV, closed the session down 3.1%, falling from $22.75 a share.
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Los Angeles electric vehicle company Canoo Holdings Ltd. will go public on Tuesday after shareholders approved a deal with Hennessy Capital Acquisition.
Under its agreement with the special purpose acquisition company, the EV startup, with $2.4 billion valuation, will begin trading on the Nasdaq Global Select Market under the ticker symbols "GOEV," Canoo said in a statement.
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