BLINK CHARGING ANNOUNCES FILING OF UNIVERSAL SHELF REGISTRATION STATEMENT
October 20 2023 - 5:52PM
Blink Charging Co. (Nasdaq: BLNK) (“Blink” or the “Company”), a
leading manufacturer, owner, operator, and provider of electric
vehicle (EV) charging equipment and services, today announced that
it has filed a universal shelf registration statement on Form S-3
with the Securities and Exchange Commission (SEC). The filing of
the shelf registration statement is intended to provide the Company
with greater financial flexibility to access the capital markets in
the future through the sale of securities if it becomes
advantageous for the Company and its shareholders.
"As we continue to scale the business, we
believe that it is good corporate governance to renew our shelf
filing to provide financial flexibility as we scale our business
and grow our network of chargers around the world as drivers
continue to adopt EVs. In the United States alone, EVs represented
about 8% of all new car sales this year and this number continues
to climb. Blink’s fundamentals are strong and we remain committed
and on track to achieving a positive adjusted EBITDA run rate by
December 2024," said Brendan Jones, President and CEO of Blink
Charging.
The shelf registration statement on Form S-3 has
been filed with the SEC but has not yet become effective. The
securities to be registered on the Form S-3 may not be sold nor may
offers to buy be accepted prior to the time the Form S-3
registration statement becomes effective. If and when the shelf
registration is declared effective, it will permit the Company to
offer and sell, from time to time in one or more offerings, up to
$400 million of common stock, preferred stock, debt securities,
warrants to purchase any of these securities, rights to purchase
common stock, preferred stock or debt securities, stock purchase
contracts, units or any combination of such securities.
Any offering of securities under the
registration statement will be made only by means of a prospectus
supplement related to such offering and the accompanying prospectus
included in the shelf registration. Blink currently expects that
the net proceeds of any such future offerings of securities
pursuant to the shelf registration statement would be used for
general corporate purposes.
This press release shall not constitute an offer
to sell nor the solicitation of an offer to buy the securities that
are proposed to be registered on the Form S-3, nor shall there be
any sale of such securities in any state in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Any
offer of securities will occur solely by means of the prospectus
included in the registration statement and one or more prospectus
supplements that would be issued at the time of the offering.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK), a global
leader in electric vehicle (EV) charging equipment, has contracted,
sold, or deployed nearly 78,000 charging ports worldwide, many of
which are networked EV charging stations, enabling EV drivers to
easily charge at any of Blink’s charging locations. Blink’s
principal line of products and services includes the Blink EV
charging network (“Blink Network”), EV charging equipment, EV
charging services, and the products and services of recent
acquisitions, including SemaConnect, Blue Corner, BlueLA and Envoy.
The Blink Network uses proprietary, cloud-based software that
operates, maintains, and tracks the EV charging stations connected
to the network and the associated charging data. With global EV
purchases forecasted to half of passenger cars sold in the US by
2030, Blink has established key strategic partnerships for rolling
out adoption across numerous location types, including parking
facilities, multifamily residences and condos, workplace locations,
health care/medical facilities, schools and universities, airports,
auto dealers, hotels, mixed-use municipal locations, parks and
recreation areas, religious institutions, restaurants, retailers,
stadiums, supermarkets, and transportation hubs.
For more information, please
visit https://blinkcharging.com/.
Forward-Looking Statements
This press release may contain 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
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 our
achieving a positive adjusted EBITDA run rate by December 2024 and
other forward-looking risks described 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 federal securities law, Blink
Charging undertakes no obligation to update or revise
forward-looking statements to reflect changed conditions.
Blink Investor Relations Contact Vitalie Stelea
IR@BlinkCharging.com 305-521-0200 ext. 446
Blink Media Contact Jon Myers
PR@BlinkCharging.com 305-521-0200 ext. 266
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