Climate Change Crisis Real Impact I Acquisition Corporation
(NYSE: CLII) (“CLII”), a publicly-traded special purpose
acquisition company, today announced that its stockholders voted to
approve the previously announced business combination with EVgo
Services, LLC (“EVgo”) at CLII’s special meeting of stockholders
(the “Special Meeting”) held on June 29, 2021.
More than 99% of the votes cast at the Special Meeting were in
favor of the approval of the business combination. CLII
stockholders also voted overwhelmingly to approve all other
proposals presented at the Special Meeting. CLII plans to file the
results of the Special Meeting, as tabulated by an independent
inspector of elections, on a Form 8-K with the Securities and
Exchange Commission (the “SEC”) today.
Subject to the satisfaction of certain other closing conditions,
the business combination is expected to close on July 1, 2021 and
CLII will change its name to from “Climate Change Crisis Real
Impact I Acquisition Corporation” to “EVgo Inc.” EVgo Inc.’s Class
A common stock and EVgo Inc.’s warrants are expected to commence
trading on The Nasdaq Global Select Market LLC under the symbols
“EVGO” and “EVGOW,” respectively, on July 2, 2021.
About CLII
CLII is a special-purpose acquisition company (“SPAC”) formed to
identify and acquire a scalable company making significant
contributions to the fight against the climate crisis. CLII is
co-sponsored by private funds affiliated with Pacific Investment
Management Company LLC (“PIMCO”), which has more than $640 billion
in sustainability investments across its portfolios. CLII is led by
a seasoned operations and leadership team that has decades of
experience at the intersection of climate change and capitalism,
and includes veterans from NRG, Credit Suisse, General Electric and
Green Mountain Power. For more information, please visit
www.climaterealimpactsolutions.com.
About EVgo
EVgo is the nation’s largest public fast charging network for
electric vehicles, and the first to be powered by 100% renewable
energy. With more than 800 fast charging locations, EVgo’s owned
and operated charging network serves over 65 metropolitan areas
across 34 states, and more than 250,000 customers. Founded in 2010,
EVgo leads the way on transportation electrification, partnering
with automakers; fleet and rideshare operators; retail hosts such
as hotels, shopping centers, gas stations and parking lot
operators; and other stakeholders to deploy advanced charging
technology to expand network availability and make it easier for
drivers across the U.S. to enjoy the benefits of driving an EV. As
a charging technology first mover, EVgo works closely with business
and government leaders to accelerate the ubiquitous adoption of EVs
by providing a reliable and convenient charging experience close to
where drivers live, work and play, whether for a daily commute or a
commercial fleet. EVgo’s parent company is LS Power, a New
York-headquartered development, investment and operating company
focused on leading edge solutions for the North American power and
energy infrastructure sector. On January 22, 2021, EVgo announced
that it entered into a definitive business combination agreement
with CLII (NYSE: CLII). For more information visit evgo.com and
lspower.com.
Forward Looking Statements
Certain statements in this press release that are not historical
facts may constitute forward-looking statements are forward-looking
statements for purposes of the safe harbor provisions under the
United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally are accompanied by words such
as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “predict,”
“potential,” “seem,” “seek,” “future,” “outlook,” and similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. All statements,
other than statements of present or historical fact included in
this press release, regarding CLII’s proposed business combination
with EVgo, CLII’s ability to consummate the transaction, the
benefits of the transaction and the combined company’s future
financial performance, as well as the combined company’s strategy,
future operations, estimated financial position, estimated revenues
and losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. These statements are
based on various assumptions, whether or not identified in this
press release, and on the current expectations of the respective
management of CLII and EVgo and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on as, a guarantee, an assurance, a prediction
or a definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of CLII or EVgo. Potential risks and
uncertainties that could cause the actual results to differ
materially from those expressed or implied by forward-looking
statements include, but are not limited to, changes in domestic and
foreign business, market, financial, political and legal
conditions; the inability of the parties to successfully or timely
consummate the business combination, including the risk that any
regulatory approvals are not obtained, are delayed or are subject
to unanticipated conditions that could adversely affect the
combined company or the expected benefits of the business
combination; failure to realize the anticipated benefits of
business combination; risk relating to the uncertainty of the
projected financial information with respect to EVgo; the overall
level of consumer demand for EVgo’s products; general economic
conditions and other factors affecting consumer confidence,
preferences, and behavior; disruption and volatility in the global
currency, capital, and credit markets; the financial strength of
EVgo’s customers; EVgo’s ability to implement its business
strategy; changes in governmental regulation, EVgo’s exposure to
litigation claims and other loss contingencies; disruptions and
other impacts to EVgo’s business, as a result of the COVID-19
pandemic and government actions and restrictive measures
implemented in response; stability of EVgo’s suppliers, as well as
consumer demand for its products, in light of disease epidemics and
health-related concerns such as the COVID-19 pandemic; the impact
that global climate change trends may have on EVgo and its
suppliers and customers; EVgo’s ability to protect patents,
trademarks and other intellectual property rights; any breaches of,
or interruptions in, CLII’s information systems; fluctuations in
the price, availability and quality of electricity and other raw
materials and contracted products as well as foreign currency
fluctuations; changes in tax laws and liabilities, tariffs, legal,
regulatory, political and economic risks. More information on
potential factors that could affect CLII’s or EVgo’s financial
results is included from time to time in CLII’s public reports
filed with the SEC, as well as the definitive proxy statement that
CLII has filed with the SEC in connection with CLII’s solicitation
of proxies for the meeting of stockholders held to approve, among
other things, the proposed business combination. If any of these
risks materialize or CLII’s or EVgo’s assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements. There may be additional risks
that neither CLII nor EVgo presently know, or that CLII and EVgo
currently believe are immaterial, that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect CLII’s
and EVgo’s expectations, plans or forecasts of future events and
views as of the date of this press release. CLII and EVgo
anticipate that subsequent events and developments will cause their
assessments to change. However, while CLII and EVgo may elect to
update these forward-looking statements at some point in the
future, CLII and EVgo specifically disclaim any obligation to do
so, except as required by law. These forward-looking statements
should not be relied upon as representing CLII’s or EVgo’s
assessments as of any date subsequent to the date of this press
release. Accordingly, undue reliance should not be placed upon the
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210629005895/en/
CLII For Investors: Dan Gross
dan.gross@climaterealimpactsolutions.com
For Media: Isaac Steinmetz Director of Media Relations
cris@antennagroup.com 646-883-3655
EVgo For Investors: Ted Brooks VP
of Investor Relations investors@evgo.com 310-954-2943
For Media: EVgoPR@icrinc.com
LS Power Steven Arabia Director,
Government Affairs & Media Relations sarabia@lspower.com
609-212-3857
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