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 deal with the SPAC, Climate Change Crisis Real Impact I Acquisition Corp., values EVgo at $2.6 billion. Shares shot up more than 66% on the news.
In the new television landscape where streaming services like Disney Plus, Apple TV and Netflix dominate, Southern California's flagship PBS stations announced Tuesday a rebranding effort that includes new logos and a redesign of its websites as they shift their focus toward streaming.
A third of PBS SoCal and KCET's viewers are streaming shows rather than watching them on traditional television, part of a larger trend where about 80% of U.S. consumers subscribe to at least one paid streaming video service, according to Deloitte. Twenty-five million households have cut the cord since 2012, CNBC reported last year.
As part of the reorganization, Chief Strategy Officer Jared Grusd, who previously oversaw content, will become a strategic advisor to Snap CEO Evan Spiegel.