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How to buy EVgo (EVGO) stock when it goes public

Here's everything we know so far about the EVgo IPO.

Dawn Daniels
Dawn Daniels

Updated

Fact checked

Electric vehicle charging station company EVgo is in talks to go public via a merger with a special purpose acquisition company. We will update this page as new information becomes available.

What we know about the EVgo IPO

EVgo, a Los Angeles-based public electric vehicle charging station company, is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. The deal is expected to close in the second quarter.

The SPAC, Climate Change Crisis Real Impact I Acquisition Corporation, originally went public in October 2020. The SPAC's stock is currently traded on the NYSE under the ticker symbol "CLII." After the merger, EVgo will trade on the NYSE under the ticker "EVGO."

This deal has been met with some pushback. A law firm, Brodsky & Smith out of Pennsylvania, have reportedly opened an investigation into whether or not shareholders of CLII are being fairly treated in the deal. Claims against the board of directors of Climate Change Crisis Real Impact I Acquisition Corporation allege that the SPAC breached their fiduciary duty to its shareholders by failing to conduct a fair process, including dilution of ownership interest in the combined company. CLII shareholders will reportedly retain 8.7% ownership in the combined company. We will provide updates as they are available.

How to buy shares in EVgo when it goes public

Once EVgo goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for EVgo. Find the stock by name or ticker symbol: EVGO. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until EVgo reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy a fractional share of EVgo, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of EVgo. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like EVgo can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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