EVgo, Inc. has announced a secondary offering of 23 million Class A shares, which will be facilitated by J.P. Morgan, Goldman Sachs, Morgan Stanley, and Evercore ISI. The shares are being sold by EVgo Holdings, LLC, an affiliate of LS Power Equity Partners IV, L.P. Following the announcement, EVgo's stock price experienced a significant decline, dropping approximately 25% to $5 per share. This downturn reflects investor concerns regarding the sale by an early investor, which has contributed to a pre-market drop of 23.4%. All proceeds from the offering will go to LS Power Equity Partners.