EVgo Inc. filed a Form 8-K on November 2, 2026, disclosing that its Board of Directors received an unsolicited, non-binding proposal from LS Power Equity Advisors, LLC and certain of its affiliates to acquire all outstanding shares of EVgo Class A common stock not currently held by LS Power for $2.00 per share in cash.

Key Highlights

  • Proposal price: LS Power offered $2.00 per share in cash for all Class A common stock of EVgo not currently owned by LS Power.
  • Proposal nature: The filing describes the offer as "unsolicited and non-binding."
  • LS Power's existing stake: LS Power currently holds approximately 56% of the combined voting power of the Company's outstanding common stock, according to the filing.
  • Recipient: The proposal was received by EVgo's Board of Directors and announced via press release on November 2, 2026.
  • Exhibits filed: The press release and the preliminary, non-binding proposal letter are attached as Exhibits 99.1 and 99.2, respectively.

LS Power's Non-Binding Proposal to Take EVgo Private

According to the Form 8-K filed with the SEC on November 2, 2026, EVgo Inc. (NASDAQ:EVGO) disclosed that its Board of Directors received an unsolicited proposal from LS Power Equity Advisors, LLC and certain of its affiliates. The proposal, described by the company as "unsolicited and non-binding," seeks to acquire all shares of EVgo's Class A common stock not currently owned by LS Power, at a cash price of $2.00 per share.

The filing notes that LS Power currently holds approximately 56% of the combined voting power of the company's outstanding common stock. The proposed transaction would therefore target the remaining publicly held portion of EVgo's Class A shares. EVgo issued a press release on the same date announcing the receipt of the proposal, copies of which, along with the proposal letter itself, were filed as exhibits to the 8-K.

The filing was signed by Francine Sullivan, Chief Legal Officer and EVP, Corporate Development of EVgo Inc., on November 2, 2026. The company is incorporated in Delaware and headquartered at 1661 East Franklin Avenue, El Segundo, California 90245. No board response, recommendation, or additional detail regarding the proposal's terms was included in the body of this filing.

What Was Disclosed

EVgo's 8-K disclosed receipt of an unsolicited, non-binding $2.00-per-share cash acquisition proposal from LS Power Equity Advisors, LLC and affiliates, which currently control approximately 56% of the company's combined voting power, targeting all publicly held Class A shares.