Envoy Technologies, a Blink Charging Subsidiary, Files Registration Statement for Proposed Initial Public Offering of Shares
Rhea-AI Summary
Blink Charging (NASDAQ: BLNK) has announced that its subsidiary Envoy Technologies has filed a registration statement with the SEC for a proposed Initial Public Offering (IPO). Envoy Technologies, a provider of electric vehicle car-sharing services and community-based EVs, plans to list its common stock on The Nasdaq Capital Market under the ticker symbol 'EVOY'.
The number of shares and price range for the proposed offering have not been determined yet. The IPO is subject to market conditions and SEC review process completion. The registration statement has been filed but is not yet effective, meaning no securities can be sold or offers to buy accepted at this time.
Positive
- Potential value creation through IPO of subsidiary Envoy Technologies
- Planned listing on Nasdaq Capital Market indicates significant market potential
- Strategic move to separate car-sharing business unit could unlock shareholder value
Negative
- Potential dilution of Blink's ownership in Envoy Technologies post-IPO
- Uncertainty regarding offering size and pricing
News Market Reaction 1 Alert
On the day this news was published, BLNK gained 0.94%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Bowie, Md., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink”), a leading global owner, operator, provider and manufacturer of electric vehicle (EV) charging equipment and services, has announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") to sell shares of its subsidiary Envoy Technologies, Inc. (“Envoy”), a leading provider of electric vehicle car-sharing services and community-based EVs.
The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is subject to market and other conditions, and the completion of the SEC's review process.
Envoy Technologies, a subsidiary of Blink Charging, applied to list its common stock for trading on The Nasdaq Capital Market under the ticker symbol "EVOY."
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act and other applicable securities laws.
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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 include 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.
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to Envoy Technologies’ proposed initial public offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including that the conditions to completing the initial public offering are not satisfied. Envoy Technologies undertakes no obligation to update any such forward-looking statements after the date hereof, except as required by law.
Contacts:
Blink Investor Relations Contact
Vitalie Stelea
IR@BlinkCharging.com
305-521-0200 ext. 446
Blink Media Contact
Nipunika Coe
PR@BlinkCharging.com
305-521-0200 ext. 266
Envoy Technologies, Inc.
c/o Marilyn Mota
PR@envoythere.com
FAQ
When is Envoy Technologies, Blink Charging's subsidiary, planning to go public?
What will be Envoy Technologies' stock symbol after the IPO?
How many shares will be offered in Envoy Technologies' IPO?
What is the relationship between BLNK and Envoy Technologies?
What services does Envoy Technologies provide?
