Benzinga | Jan 6, 2021 04:38PM EST

Blink Charging Announces Proposed 5M Share Public Offering Of Common Stock

MIAMI BEACH, FL, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Blink Charging Co. (the "Company" or "Blink") (NASDAQ:BLNK, BLNKW))))), a leading owner, operator and provider of electric vehicle (EV) charging equipment and services, today announced that it intends to offer and sell 5,000,000 shares of its common stock in an underwritten registered public offering. All shares of common stock to be sold in the proposed offering will be offered by the Company, except that certain selling stockholders, together with the Company, expect to grant the underwriter for the offering a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

Blink intends to use the net proceeds from the proposed offering to supplement its operating cash flows to fund EV charging station deployment and finance the costs of acquiring competitive and complementary businesses, products and technologies as a part of its growth strategy, and for working capital and general corporate purposes.