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Charge Enterprises, Inc. (OTC PINK:CRGE) announced the appointment of three independent directors: Chantel E. Lenard, Gary Jacobs, Esq., and Amy Hanson. Lenard, former U.S. Chief Marketing Officer of Ford, brings extensive marketing expertise, while Jacobs has corporate strategy experience from MGM Resorts. Hanson has a strong background in finance and operations. These appointments aim to enhance Charge's growth strategy in the global communications and EV infrastructure sectors. The board now consists of ten members, with specific roles on various committees assigned to the new directors.
Charge Enterprises (OTC PINK: CRGE) will present at the 24th Annual Needham Virtual Growth Conference on January 14, 2022, at 11:30 AM ET. CEO Andrew Fox will highlight the company's efforts in Electric Vehicle Charging and 5G Wireless Networks. A webcast of the session will be available for later viewing. Charge operates divisions focused on Telecommunications and Infrastructure, offering services in design, engineering, and maintenance. For more details, investors are encouraged to check Charge's public filings.
Charge Enterprises (OTC PINK:CRGE) announced the appointments of Paul Fettuccia as President and Denise Reed as Treasurer of the New York State Wireless Association (NYSWA). This organization supports over 4,700 members in the wireless sector, fostering relationships and industry dialogue. Chairman Andrew Fox expressed pride in the leadership team, emphasizing their role in driving revenue and building long-term profitability. Charge operates in telecommunications and electric vehicle infrastructure, focusing on growth sectors like EV charging and 5G networks.
Charge Enterprises Inc. (OTC PINK:CRGE) has announced the acquisition of BW Electrical Services LLC for $13.5 million and 1,285,714 shares of common stock. This acquisition, confirmed on December 23, 2021, enhances Charge's offerings in electric vehicle (EV) charging infrastructure and broadens its commercial capabilities. BWES, established in 2006, specializes in electrical contracting and has managed significant projects including the restoration of the New Jersey State House. The acquisition aims to leverage BWES' expertise and standardized processes to support Charge's growth strategy.
Charge Enterprises (OTC PINK:CRGE) announced on December 23, 2021, it secured $20 million in funding through $22.22 million of debt and preferred equity from an institutional investor. The financing includes $14.81 million in senior secured promissory notes at 7.5% interest, maturing November 19, 2023, and $7.41 million in Series C Convertible Preferred Stock with a 6% dividend. Investors also received warrants for 2,370,370 common shares at $4.00. Proceeds will help fund expected acquisitions.
Charge Enterprises (OTC PINK:CRGE) has signed a definitive agreement to acquire BW Electrical Services LLC for $18 million in cash and common stock. BWES specializes in electrical contracting for commercial projects in New Jersey, boasting a strong reputation and high-profile projects including the New Jersey State House. This acquisition aims to enhance Charge's EV charging infrastructure, leveraging BWES's expertise and skilled workforce to meet the growing demand for EV charging solutions. The deal is expected to close around December 27, 2021.
Charge Enterprises (OTC PINK:CRGE) announced the appointment of Craig Denson as the new Secretary of the company, transitioning from Board member Philip P. Scala. This move is expected to align Charge's corporate practices with regulatory compliance and enhance its infrastructure as it aims to list on the Nasdaq Capital Market. The company operates in telecommunications and EV charging infrastructure, focusing on the growing demand in these sectors. Charge is committed to becoming a key player at the intersection of mobility and connectivity.
Charge Enterprises Inc. (OTC PINK:CRGE) announced that its CEO, Andrew Fox, will present at the Benzinga Global Small Cap Conference on December 9, 2021, at 2:40 PM EST. The presentation will focus on Charge’s roles in electric vehicle charging infrastructure and 5G wireless networks. Attendees can access the webcast here. Charge operates in telecommunications and infrastructure, providing services in EV charging and telecommunications.
Charge Enterprises (OTC PINK:CRGE) has appointed Craig Denson as Chief Compliance Officer in addition to his current role as Chief Operating Officer. This appointment aims to enhance corporate compliance and risk management as the company prepares to list its common stock on the Nasdaq Capital Market. CEO Andrew Fox highlighted Denson's extensive experience in public companies and his pivotal role in Charge's growth strategy. Charge focuses on electric vehicle charging infrastructure and telecommunications services while also pursuing investment opportunities to bolster its operations.
Charge Enterprises reported Q3 revenue of $117.1 million with a net loss of $25.2 million or $0.17 per share, primarily due to non-cash charges amounting to $27.4 million. The company focused on enhancing its leadership team and optimizing processes to support growth in EV charging and 5G infrastructure. Charge is actively working towards a Nasdaq listing to broaden visibility and liquidity. The recent infrastructure bill includes a $7.5 billion investment for national EV charger networks, aligning with Charge's core business strategies aimed at capitalizing on the growing market for both EV and 5G technologies.
