Blink Charging and Envoy Reach Agreement, Releasing Blink from all Payment Obligations and Liability
Rhea-AI Summary
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.
Positive
- None.
Negative
- 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
News Market Reaction
On the day this news was published, BLNK declined 4.44%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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?
What are the vesting conditions for BLNK's warrants issued to Envoy shareholders?
What trading restrictions apply to the shares issued in BLNK's Envoy settlement?
How will the Envoy settlement affect Blink Charging's share structure?
When will Blink Charging (BLNK) release its Q2 2025 results?
