Is CLII SPAC stock undervalued prior to the EVgo merger date?

0
225

""SPAC Stock"" – Google News

Several factors make EVgo shares attractive to long-term investors. EVgo has installed over 800 fast charging stations in 34 states, with many more pending. The company is growing rapidly. EVgo expects revenues of $ 20 million in 2021 and revenues of $ 54 million in 2022 and $ 166 million in 2023. EVgo expects positive adjusted EBITDA for 2023 and positive free cash flow for 2026. The company expects revenue of $ 1.3 billion and Adjusted EBITDA of $ 507 million.

EVgo is also a well-funded company and will receive net cash proceeds of $ 575 million from the CLII deal. BlackRock, Van Eck Associates, Wellington Management and Neuberger Berman Funds have all invested in EVgo stock.

At $ 13.70 per share, CLII SPAC stock is trading at a discount of 44 percent to its 52-week high. The decline in CLII stocks could be a buying opportunity for risk-tolerant investors.

Source Link

Leave a Reply