Business
Blink Charging Announces Closing of Public Offering of Common Stock for Gross Proceeds of $100 Million
MIAMI BEACH, FL, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (the “Company” or “Blink”) (Nasdaq: BLNK, BLNKW), a global leading manufacturer, owner,
About this update from Blink Charging Co.
[{"type":"text","content":"MIAMI BEACH, FL, Feb. 09, 2023 (GLOBE NEWSWIRE) -- 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 closed its previously announced underwritten registered public offering. In the offering, Blink sold 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. In addition, the underwriters have a 30-day option to purchase up to an additional 1,249,999 shares of common stock from the Company at the public offering price, less the underwriting discounts and commissions. The total net proceeds, after underwriting discounts and commissions, but before estimated expenses of the offering payable by the Company, were approximately $95.0 million. 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 acted as the sole book-running manager for the offering. H.C. Wainwright & Co., Roth Capital Partners and ThinkEquity acted as co-managers for the offering. The offering was 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 final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering were filed with the SEC on February 8, 2023, and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, or by emailing [email protected]. 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 woul...