Blink Charging Announces Pricing of its Upsized Public Offering of Common Stock
February 07 2023 - 06:50AM
GlobeNewswire Inc.
Blink Charging Co. (the “Company” or “Blink”)
(Nasdaq: BLNK, BLNKW), a global leading manufacturer, owner,
operator and provider of electric vehicle (EV) charging equipment
and networked EV charging services, today announced the pricing of
its upsized underwritten registered public offering of 8,333,333
shares of its common stock at a public offering price of $12.00 per
share, for total gross proceeds of approximately $100 million. The
net proceeds, after underwriting discounts, but before estimated
expenses of the offering payable by Blink, are expected to be
approximately $95 million. All shares of common stock to be sold in
the offering will be sold by the Company, and the Company has
granted the underwriter for the offering a 30-day option to
purchase up to an additional 1,249,999 shares of common stock. The
offering is expected to close on or about February 9, 2023, subject
to the satisfaction of customary closing conditions.
Blink intends to use the net proceeds from the
offering to fund EV charging station deployments, to finance the
costs of acquiring or investing in competitive and complementary
businesses, products and technologies as a part of its growth
strategy, and for working capital and other general corporate
purposes.
Barclays is acting as the sole book-running
manager for the offering. H.C. Wainwright & Co., Roth Capital
Partners and ThinkEquity are acting as co-managers for the
offering.
The offering is being made pursuant to an
effective shelf registration statement on Form S-3ASR (File No.
333-251919), including a base prospectus, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on January 6, 2021.
A preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering were filed
with the SEC on February 6, 2023 and may be obtained by visiting
the SEC’s website at www.sec.gov or by contacting Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: (888) 603-5847, or by emailing
barclaysprospectus@broadridge.com. The final terms of the offering
will be disclosed in a final prospectus supplement to be filed with
the SEC.
This press release does not constitute an offer
to sell or solicitation of an offer to buy any securities in the
offering. Nor shall there be any sale of these securities in any
state or jurisdiction in which such offering, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of any such state or jurisdiction.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK, BLNKW), a
leader in electric vehicle (EV) charging equipment, has sold or
deployed over 66,000 chargers, many of which are networked EV
charging stations, enabling EV drivers to easily charge at any of
Blink’s charging locations worldwide. Blink’s principal line of
products and services is its nationwide Blink EV charging networks
(the “Blink Networks”) and Blink EV charging equipment, also known
as electric vehicle supply equipment (“EVSE”), and other EV related
services, and the products and services of recent acquisitions,
including SemaConnect, EB Charging, Blue Corner and BlueLA.
Forward-Looking Statements
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements and terms such
as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or
other comparable terms involve risks and uncertainties because they
relate to events and depend on circumstances that will occur in the
future. Those statements include statements regarding the offer and
sale of shares, the terms of the offering, the intent, belief or
current expectations of Blink Charging and members of its
management, as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, including those described
under the caption “Risk Factors” and elsewhere in the prospectus
relating to the offering, and in Blink Charging’s periodic reports
filed with the SEC, and that actual results may differ materially
from those contemplated by such forward-looking statements. Except
as required by U.S. federal securities law, Blink Charging
undertakes no obligation to update or revise forward-looking
statements to reflect changed conditions.
Blink Investor Relations
Contact IR@BlinkCharging.com855-313-8187
Blink Media
Contact PR@BlinkCharging.com
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From May 2023 to Jun 2023
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From Jun 2022 to Jun 2023