REUTERS: EVgo Services LLC said on Friday it has agreed to go public through a merger with blank-check firm Climate Change Crisis Real Impact I Acquisition Corp, in a deal that values the electric vehicle charging station provider at US$2.6 billion. The deal is expected to provide EVgo with about US$575 million in net cash proceeds, including US$400 million from investors such as Pacific Investment Management Co LLC (PIMCO), BlackRock Inc and Wellington Management, among others. A blank-check firm, also known as a special purpose acquisition company (SPAC), raises funds through an initial public offering to acquire a private company, which then becomes public as a result. Around 53 SPACs have raised nearly US$15 billion so far this year, nearly one-fifth of the total amount raised by SPACs in 2020, according to data from SPAC Research. The deal is the latest SPAC merger in the U.S. electric-vehicle business, which has seen many high-profile firms such as Nikola Corp and … [Read more...] about EV charging network EVgo to go public via US$2.6 billion SPAC deal