Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink Charging” or the “Company”), a leading owner, operator, and provider of electric vehicle (EV) charging services, announced the pricing of an underwritten public offering of 4,353,000 units, each unit consisting of one share of common stock and two warrants each to purchase one share of common stock. Each unit is offered at a public offering price of $4.25. The warrants will have a per share exercise price of $4.25, are exercisable immediately, and will expire five years from the date of issuance. No units will be issued. The common stock and warrants are immediately separable from the units and will be issued separately. The common stock and the warrants have been approved to list on the Nasdaq Capital Market under the symbols BLNK and BLNKW, respectively, and are expected to begin trading on February 14, 2018.
The aggregate gross proceeds to Blink Charging from the public offering are expected to be $18,500,250, prior to deducting underwriting discounts, commissions and other estimated offering expenses. Blink Charging has granted the underwriters a 45-day option to purchase up to an additional 652,950 shares of common stock and/or warrants to purchase 1,305,900 shares of common stock to cover over-allotments, if any. The offering is expected to close on February 16, 2018, subject to customary closing conditions.
Blink Charging intends to use the net proceeds from the public offering to repay certain of its outstanding debt, for deployment of charging stations, and for working capital and general corporate purposes.
Joseph Gunnar & Co., LLC is acting as sole book-running manager for the offering and The Benchmark Company, LLC is acting as co-manager for the offering.
The Securities and Exchange Commission declared effective a registration statement on Form S-1 relating to these securities on February 13, 2018. A final prospectus relating to this offering will be filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, when available, by contacting Joseph Gunnar & Co., LLC, Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, telephone 212-440-9600, email: firstname.lastname@example.org. Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission's website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.