Climate Change Crisis Real Impact I Acquisition set a June 29 meeting for shareholders to vote on the SPAC’s proposed business combination with EVgo HoldCo, a fast-charging network for electric vehicles powered by renewable electricity. The SPAC has filed a proxy on the deal.
Announced in January, the pro forma implied market capitalization of the combined company is $2.6 billion at the $10 per share PIPE subscription price, assuming no redemptions. Net cash proceeds are estimated to be approximately $575 million, comprised of $400 million from the PIPE and approximately $230 million of cash held in trust by CRIS before any adjustments due to redemptions by CRIS shareholders and payment of deferred underwriting compensation, less transaction expenses. Read more.
