Blink Charging and Envoy Reach Agreement, Releasing Blink from all Payment Obligations and Liability
Blink Charging (NASDAQ: BLNK) has reached a significant agreement with former shareholders of its subsidiary Envoy Technologies, amending their original merger agreement. The deal releases Blink from all payment obligations and liabilities through a structured settlement involving:
The company will issue $10 million in common stock, valued based on 25-day VWAP, and performance-based warrants worth $11 million total. The warrants are divided into three tranches with specific stock price vesting conditions: $2.5M at $1.70/share, $2.5M at $2.10/share, and $6M at $4.85/share, each requiring seven consecutive days at target prices. All shares will be subject to a 120-day leak-out period with daily trading restrictions.
Blink Charging (NASDAQ: BLNK) ha raggiunto un accordo importante con gli ex azionisti della sua controllata Envoy Technologies, modificando il contratto di fusione originale. L'accordo libera Blink da tutti gli obblighi di pagamento e responsabilità tramite una sistemazione strutturata che prevede:
L'azienda emetterà 10 milioni di dollari in azioni ordinarie, valutate in base alla media ponderata del prezzo di 25 giorni (VWAP), e warrant basati sulle performance per un valore complessivo di 11 milioni di dollari. I warrant sono suddivisi in tre tranche con condizioni di vesting legate al prezzo delle azioni: 2,5 milioni a 1,70$ per azione, 2,5 milioni a 2,10$ per azione, e 6 milioni a 4,85$ per azione, ciascuno richiedendo sette giorni consecutivi al prezzo target. Tutte le azioni saranno soggette a un periodo di leak-out di 120 giorni con restrizioni di negoziazione giornaliere.
Blink Charging (NASDAQ: BLNK) ha alcanzado un acuerdo significativo con los antiguos accionistas de su subsidiaria Envoy Technologies, modificando su acuerdo de fusión original. El acuerdo libera a Blink de todas las obligaciones de pago y responsabilidades mediante un arreglo estructurado que incluye:
La compañía emitirá 10 millones de dólares en acciones ordinarias, valoradas según el VWAP de 25 días, y garantías basadas en desempeño por un valor total de 11 millones de dólares. Las garantías se dividen en tres tramos con condiciones de adquisición basadas en el precio de la acción: 2,5 millones a 1,70$ por acción, 2,5 millones a 2,10$ por acción y 6 millones a 4,85$ por acción, cada uno requiriendo siete días consecutivos en los precios objetivo. Todas las acciones estarán sujetas a un período de leak-out de 120 días con restricciones de negociación diarias.
Blink Charging (NASDAQ: BLNK)는 자회사 Envoy Technologies의 이전 주주들과 중요한 합의에 도달하여 원래의 합병 계약을 수정했습니다. 이 합의는 구조화된 합의를 통해 Blink가 모든 지급 의무와 책임에서 벗어나도록 합니다:
회사는 25일 VWAP 기준으로 평가된 1,000만 달러 상당의 보통주와 총 1,100만 달러 상당의 성과 기반 워런트를 발행할 예정입니다. 워런트는 주가 달성 조건에 따라 세 개의 트랜치로 나뉘며, 각각 170센트, 210센트, 485센트 주가에서 7일 연속 목표가 달성을 요구합니다. 모든 주식은 120일간의 누출 제한 기간과 일일 거래 제한이 적용됩니다.
Blink Charging (NASDAQ : BLNK) a conclu un accord important avec les anciens actionnaires de sa filiale Envoy Technologies, modifiant leur accord de fusion initial. Cet accord libère Blink de toutes obligations de paiement et responsabilités via un règlement structuré comprenant :
La société émettra 10 millions de dollars en actions ordinaires, évaluées sur la base de la moyenne pondérée du cours sur 25 jours (VWAP), ainsi que des bons de souscription conditionnés à la performance pour une valeur totale de 11 millions de dollars. Les bons sont divisés en trois tranches avec des conditions d’acquisition liées au cours de l’action : 2,5 millions à 1,70 $/action, 2,5 millions à 2,10 $/action, et 6 millions à 4,85 $/action, chacune nécessitant sept jours consécutifs au prix cible. Toutes les actions seront soumises à une période de leak-out de 120 jours avec des restrictions de négociation quotidiennes.
Blink Charging (NASDAQ: BLNK) hat eine bedeutende Vereinbarung mit ehemaligen Aktionären seiner Tochtergesellschaft Envoy Technologies getroffen und den ursprünglichen Fusionsvertrag geändert. Die Vereinbarung entbindet Blink von allen Zahlungs- und Haftungsverpflichtungen durch eine strukturierte Einigung, die Folgendes umfasst:
Das Unternehmen wird 10 Millionen US-Dollar in Stammaktien ausgeben, bewertet auf Basis des 25-Tage-VWAP, sowie leistungsabhängige Optionsscheine im Gesamtwert von 11 Millionen US-Dollar. Die Optionsscheine sind in drei Tranchen mit spezifischen Aktienkursbedingungen unterteilt: 2,5 Mio. bei 1,70 USD/Aktie, 2,5 Mio. bei 2,10 USD/Aktie und 6 Mio. bei 4,85 USD/Aktie, wobei jeweils sieben aufeinanderfolgende Tage auf Zielkurs erforderlich sind. Alle Aktien unterliegen einer 120-tägigen Leak-out-Periode mit täglichen Handelsbeschränkungen.
- None.
- Issuance of $10 million in common stock will cause immediate dilution
- Potential future dilution of up to additional $11 million if warrant conditions are met
- Settlement terms suggest possible underlying issues with original merger agreement
Insights
Blink Charging eliminates significant liability through $21M stock-based settlement with Envoy shareholders, improving balance sheet strength while minimizing immediate cash impact.
This agreement represents a significant financial restructuring for Blink Charging. By converting what was likely a cash payment obligation into equity instruments, Blink has effectively strengthened its balance sheet while maintaining liquidity. The $10 million in common stock will cause immediate dilution to existing shareholders, but eliminates a sizeable liability without depleting cash reserves.
The warrant structure is particularly favorable for Blink as it ties the additional $11 million in potential dilution to substantial share price appreciation. The three tranches with price targets of
The 120-day leak-out period with daily trading limits is a crucial protective mechanism that should prevent market disruption when shares are issued or warrants exercised. This orderly distribution approach (limited to
From a liability management perspective, this agreement provides complete release from claims related to the Envoy acquisition, eliminating potential legal and financial exposures. The transaction structure allows Blink to maintain focus on operational execution rather than addressing ongoing acquisition-related obligations.
Bowie, Md., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, announced today that it has reached a mutual agreement with the former shareholders of Envoy Technologies, Inc. ("Envoy"), a wholly-owned subsidiary of Blink and leading provider of on-demand electric vehicle (EV) car-sharing services for real estate communities, to amend the organizations’ original agreement and plan of merger, satisfying Blink’s liability.
The new amendment provides that the sole remaining payment obligation to the former equity holders of Envoy are now fully satisfied, and that Blink will be released from all claims and liabilities, following the issuance of
Blink will be granting Envoy’s former equity holders:
$2.5 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of$1.70 for seven consecutive days;$2.5 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of$2.10 for seven consecutive days; and$6 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of$4.85 for seven consecutive days.
All shares of Company common stock initially issued or issued pursuant to the exercise of warrants will be subject to a 120-day leak-out period commencing on initial issuance or exercise of warrant, as applicable, allowing sales limited to
Blink will host a conference call to review second quarter 2025 results at a new date and time. An announcement will follow shortly with more information.
About Envoy
Envoy is a pioneering EV fleet technology and electric car-sharing service provider headquartered in Culver City, CA. Envoy’s offerings include all-electric car-sharing services in the United States for private properties as an amenity such as apartments, hotels, and workplaces. Real estate owners and operators cooperate with Envoy to introduce community shared mobility programs that enrich the lives of their residents, members, and guests enhancing mobility as part of their lifestyle. Envoy's amenity services support nationwide goals to reduce parking demand and individual car ownership. Developers can leverage Envoy’s inclusion in their projects to access development incentives, aligning with urban development goals.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services includes Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.
For more information, please visit https://blinkcharging.com/
Blink Investor Relations Contact
Vitalie Stelea
IR@BlinkCharging.com
305-521-0200 ext. 446
Blink Media Contact
Felicitas Massa
PR@BlinkCharging.com
305-521-0200 ext. 266
FAQ
What are the terms of Blink Charging's (BLNK) settlement with Envoy shareholders?
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