Business
BLINK CHARGING ANNOUNCES FILING OF UNIVERSAL SHELF REGISTRATION STATEMENT
Miami Beach, FL, Oct. 20, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK) (“Blink” or the “Company”), a leading manufacturer, owner, operator, and
About this update from Blink Charging Co.
[{"type":"text","content":"Miami Beach, FL, Oct. 20, 2023 (GLOBE NEWSWIRE) -- 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 securitie...