Business
Blink Charging Announces Pricing of its Upsized Public Offering of Common Stock
MIAMI BEACH, FL, Feb. 07, 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. 07, 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 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 [email protected]. 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 offerin...