EVgo Inc. Enters Material Definitive Agreement
Ticker: EVGOW · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1821159
| Field | Detail |
|---|---|
| Company | Evgo INC. (EVGOW) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.0001, $11.50, $1.248 b, $1.05 billion, $193 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
EVgo just signed a big deal, could mean new financial obligations.
AI Summary
EVgo Inc. announced on December 12, 2024, that it entered into a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant, along with a Regulation FD disclosure and other events. The company is involved in the automotive repair, services, and parking sector.
Why It Matters
This filing signals a significant new agreement for EVgo Inc., potentially impacting its financial obligations and operational strategies.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations and strategic shifts that carry inherent risks.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of EVgo's fiscal year.)
Key Players & Entities
- EVgo Inc. (company) — Registrant
- 0001821159 (company) — Central Index Key
- 2024-12-12 (date) — Filing Date
FAQ
What is the nature of the material definitive agreement entered into by EVgo Inc.?
The filing does not specify the details of the material definitive agreement, only that one has been entered into.
What type of financial obligation has EVgo Inc. created?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but does not provide specifics.
When was this Form 8-K filed?
This Form 8-K was filed on December 12, 2024.
What is EVgo Inc.'s Standard Industrial Classification code?
EVgo Inc.'s SIC code is 7500, categorized under SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING.
What were EVgo Inc.'s former company names?
EVgo Inc. was formerly known as Climate Change Crisis Real Impact I Acquisition Corp. before changing its name on August 14, 2020.
Filing Stats: 1,716 words · 7 min read · ~6 pages · Grade level 12.1 · Accepted 2024-12-12 16:36:34
Key Financial Figures
- $0.0001 — tered Shares of Class A common stock, $0.0001 par value per share EVGO The Nasdaq
- $11.50 — A common stock at an exercise price of $11.50 EVGOW The Nasdaq Global Stock Marke
- $1.248 b — a senior secured loan facility of up to $1.248 billion, consisting of $1.05 billion of p
- $1.05 billion — of up to $1.248 billion, consisting of $1.05 billion of principal and up to $193 million of
- $193 million — of $1.05 billion of principal and up to $193 million of capitalized interest, subject to mod
- $75 million — request for an Advance of approximately $75 million and expects to receive such Advance in
Filing Documents
- tm2430784d1_8k.htm (8-K) — 42KB
- tm2430784d1_ex10-1.htm (EX-10.1) — 1197KB
- tm2430784d1_ex99-1.htm (EX-99.1) — 27KB
- tm2430784d1_ex99-2.htm (EX-99.2) — 19KB
- 0001104659-24-128041.txt ( ) — 1736KB
- evgo-20241212.xsd (EX-101.SCH) — 4KB
- evgo-20241212_def.xml (EX-101.DEF) — 26KB
- evgo-20241212_lab.xml (EX-101.LAB) — 36KB
- evgo-20241212_pre.xml (EX-101.PRE) — 25KB
- tm2430784d1_8k_htm.xml (XML) — 6KB
Forward-Looking Statements
Forward-Looking Statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. Forward-looking statements generally relate to future events or the Company's future financial or operating performance. In some cases, you can identify forward-looking "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the Company's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this report include, but are not limited to, statements regarding the possible issuance and timing of Advances under the DOE Loan, the terms of the Guarantee Agreement and related DOE Loan agreements, the use of proceeds resulting from the DOE Loan, the satisfaction of covenants made pursuant to the DOE Loan, and the absence of events of default. The Company's expectations and beliefs regarding these matters may not materialize. The forward-looking statements contained in this report are also and Exchange Commission, including the Company's annual report on Form 10-K for the fiscal year ended December 31, 2023 and the Company's quarterly reports on Form 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024 and September 30, 2024. The forward-looking statements in this report are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law.
01 Other Events
Item 8.01 Other Events In connection with the DOE Loan, the Company has identified certain additional risk factors applicable to the Company. Such risk factors are filed herewith as Exhibit 99.2 and incorporated herein by reference. Item9.01.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits The following materials are filed as exhibits to this Current Report on Form 8-K. Exhibit No. Description 10.1* Loan Guarantee Agreement, by and between EVgo Swift Borrower LLC and U.S. Department of Energy, dated as of December 12, 2024. 99.1 Press Release, dated December 12, 2024. 99.2
Risk Factors
Risk Factors of EVgo Inc. 104 Cover Page Interactive Data File (embedded within the inline XBRL document). * Certain information, exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Items 601(a)(5) and 601(b)(10). The Company agrees to furnish a copy of any omitted schedule or exhibit to the SEC upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EVGO INC. Date: December 12, 2024 By: /s/Paul Dobson Paul Dobson Chief Financial Officer