The Climate Change Crisis Real Impact I SPAC soared as much as 80% on Friday after it said it would merge with EVgo, an operator of a network of more than 800 electric vehicle charging stations. The SPAC, led by Chief Executive Officer David Crane and Chief Financial Officer John Cavalier, in September raised $230 million to pursue a target in the climate sector. Climate Change Crisis Real Impact I Acquisition Corporation (Name of Registrant as Specified In Its Charter) N/A ... nomination of former Transportation Secretary Rodney Slater and Google Sustainability Officer Kate Brandt to its post-merger Board of Directors. Bloomberg | Quint is a multiplatform, Indian business and financial news company. By. The EVgo merger touches on two hot trends seen in the stock market in recent months: the proliferation of going public via a SPAC instead of the traditional IPO route, and giving investors exposure to the fast-growing electric vehicle space. Climate Change Crisis Real Impact I Acquisition Corp. SPAC Merger Partner, EVgo, Reports Achieved 250K Customer Milestone Commerce Policy | A representative for EVgo didn’t immediately respond to a request for comment, and a spokesman for the Climate Change Crisis SPAC declined to comment. Charging Network EVgo Near Merger With Climate Change SPAC. Shares of Climate Change Crisis, which is a special purpose acquisition company, jumped as much as 117% in pre-market trading Friday. Read More: GOLDMAN SACHS: These 22 stocks still haven't recovered to pre-pandemic levels - and are set to explode amid higher earnings in 2021 as the economy recovers, Plus500. All rights reserved. ", He added: "EVgo's comprehensive national DC fast charging network capable of charging every type of electric vehicle is unparalleled, and we are proud to be a part of its ongoing success.". Climate Change Crisis Real Impact is on track to complete its merger with electric-charging specialist EVgo in this year's second quarter. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). An announcement could come as soon as Friday, the people said. EVgo, founded in 2010, has more than 800 fast charging locations in over 600 cities across 34 U.S. states, serving a customer base in excess of 200,000, its website shows. Accessibility Statement | EVgo is the latest company to jump on the trend of so-called SPAC mergers, in a deal that will bring in nearly $600 million. Climate Change Crisis Real Impact’s decision to bring EVgo public will have it supplying the company with $575 million to work with. Article content (Bloomberg) — EVgo Services LLC, a charging network for electric vehicles that’s entirely powered by renewable energy, is nearing a deal to go public through a merger with Climate Change Crisis Real Impact I Acquisition Corp., according to people with knowledge of the matter. (Bloomberg) -- EVgo Services LLC, a charging network for electric vehicles that’s entirely powered by renewable energy, is nearing a deal to go public through a merger with Climate Change Crisis Real Impact I Acquisition Corp., according to people with knowledge of the matter. A transaction is set to value the combined entity at more than $2 billion, said one of the people, who asked not to be identified as the information is private. EVgo, (or the “Company”), the nation’s largest public fast charging network for electric vehicles (EVs) and the first powered by 100% renewable energy, today announced the nomination of Patricia K. Collawn to join its Board of Directors upon the closing of its previously announced business combination with Climate Change Crisis Real Impact I Acquisition … David Crane, the CEO of Climate Change Crisis Real Impact I SPAC, said of EVgo: "It has a distinct and highly advantageous owner-operator business model, supported by strategic partnerships with key industry players singularly focused on an essential and growing factor necessary for supporting widespread EV adoption. announces that it is investigating Climate Change Crisis Real Impact I Acquisition Corporation (“CRIS”) (NYSE: CLII) regarding possible breaches of fiduciary duties and other violations of law related to CRIS’s agreement to merge with EVgo Services LLC. Disclaimer | The company was founded by David W. Crane, John A. Cavalier and Elizabeth Comstock and is headquartered … Climate Change Crisis Real Impact I Acquisition Corporation, also called Climate Change Crisis Real Impact, is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. WILMINGTON, Del., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Rigrodsky Law, P.A. Join our, An EV Charging Station CEO Plans to Electrify the Roads, Biden’s Charging Plan Could Sell 25 Million EVs. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Missing BloombergQuint's WhatsApp service? The company also has corporate partners that include Uber and Lyft, and EVgo has worked with Tesla to enable native fast charging on its EVgo network. Another electric vehicle charging specialist, EVBox, in December agreed to go public through a merger with blank-check firm TPG Pace Beneficial Finance Corp., which has seen its shares more than double since that announcement. Shares of special purpose acquisition company Climate Change Crisis Real Impact CLII rocketed Friday after a media report said it was close to a deal to merge with EVgo Services. They were up 65% to $22 at 4:36 a.m. in New York. Climate Change Crisis Real Impact I Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The deal will value EVgo at $2.6 billion and raise up to $575 million in proceeds for the firm, which will allow the company to accelerate the expansion of its electric-vehicle charging network. Electric vehicle charging network EVgo is going public via a merger with the Climate Change Crisis Real Impact I SPAC. January 22 2021, 10:33 AM January 25 2021, 1:12 PM. WILMINGTON, Del., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Rigrodsky Law, P.A. Through a strategic relationship with General Motors, EVgo expects to add more than 2,700 fast chargers to its network over the next five years. Read more: Biden’s Charging Plan Could Sell 25 Million EVs. The proposed merger has been approved by the board of directors of both companies, and completion of the transaction is expected to occur in the second quarter of 2021. (Bloomberg) -- EVgo Services LLC, a charging network for electric vehicles that’s entirely powered by renewable energy, is nearing a deal to go public through a merger with Climate Change Crisis Real Impact I Acquisition Corp., according to people with knowledge of the matter. To date, CRIS’s Board of Directors has nominated each of Elizabeth Comstock, Cathy Zoi, David … Stock quotes by finanzen.net. Its partners include automakers like BMW AG, General Motors Co., Nissan Motor Co. and rideshare operators such as Uber Technologies Inc. Shares of Climate Change Crisis Real Impact I Acquisition (NYSE:CLII) soared Friday morning after the company announced plans to merge with electric-vehicle (EV) charging network provider EVgo. Read more: An EV Charging Station CEO Plans to Electrify the Roads. As with any deal that isn’t yet finalized, it could still be delayed or talks could collapse. Made In NYC | 76.4% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our, Sign up here for our daily newsletter, 10 Things Before the Opening Bell, Lumber prices fall for an 8th straight day, deepening a roughly 30% pullback », Only half of rural voters know that Democrats voted to send them stimulus checks, new poll finds ». Climate Change Crisis Real Impact I Acquisition Corporation operates as a blank check company.

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