Blink Charging Raises Over $15 Million in Warrant Exercises
May 25 2018 - 9:00AM
Proceeds Will Be Used to Fuel Expansion
of Footprint and to Launch New Products
Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink Charging” or the
“Company”) a leading owner, operator and provider of electric
vehicle (EV) charging services announced today that it has raised
over $15 million in proceeds from holders exercising and the
Company issuing 3,655,143 common stock purchase warrants, exercised
at $4.25 a share. The warrants were issued as part of the units
sold in the Company’s public offering which closed on February 16,
2018.
The proceeds from the warrant exercises will be
used to continue Blink’s nationwide growth and expansion into
markets with high EV demand.
“We began a new stage of growth with our public
offering on Nasdaq last February. We believe Blink Charging is now
on course to bring charging stations to EV drivers no matter where
they are,” said Michael D. Farkas, Founder and Executive Chairman
of Blink Charging Co. “Our goal remains to remove the single
largest hurdle for EV drivers —accessibility of charging stations —
by offering favorable business models for commercial property
owners and municipalities. We have decreased our liabilities and
increased our assets and charging service revenues and we believe
the exercise of these warrants will fuel our rapid growth
trajectory.”
About Blink Charging
Co.:
Blink Charging (NASDAQ: BLNK, BLNKW) is one of the
leaders in nationwide public electric vehicle (EV) charging
equipment and services, enabling EV drivers to easily charge at
locations throughout the United States. Headquartered in Florida
with offices in Arizona and California, Blink Charging’s business
is designed to accelerate EV adoption.
Blink Charging offers EV charging equipment and
connectivity to the Blink Network, a cloud-based software that
operates, manages, and tracks the Blink EV charging stations and
all the associated data. Blink Charging also owns and operates EV
charging equipment predominantly under the Blink brand, as well as
using a number of other charging station equipment manufacturers
such as ChargePoint, General Electric (GE) and SemaConnect. Blink
Charging has strategic property partners across multiple business
sectors including multifamily residential and commercial
properties, airports, colleges, municipalities, parking garages,
shopping malls, retail parking, schools, and workplaces.
For more information about Blink Charging,
please visit BlinkCharging.com
Forward-Looking StatementsThis
press release contains 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. By their
nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future. Those
statements include statements regarding the intent, belief or
current expectations of Blink Charging Co., 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, and that actual results may
differ materially from those contemplated by such forward-looking
statements. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed
conditions.
*The Company’s audited financial results appear
in the Company’s Annual Report on Form 10-K which was filed with
the SEC on April 17, 2018.
Blink Charging Media Contact:
Stephanie Goldman
Mark Havenner
The Pollack PR Marketing Group
sgoldman@ppmgcorp.com
mhavenner@ppmgcorp.com
(212) 601-9341
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blink Charging (NASDAQ:BLNK)
Historical Stock Chart
From Apr 2023 to Apr 2024