Blink Charging Announces Closing of Public Offering of Common Stock for Total Gross Proceeds of $232.1 Million

MIAMI BEACH, FL, Jan. 12, 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 closed its previously announced underwritten public offering. In the offering, Blink sold 5,400,000 shares of its common stock at a public offering price of $41.00 per share, for gross proceeds of $221.4 million. The underwriters also exercised their option in full to purchase an additional 260,000 shares of common stock from the Company and 550,000 shares from the chief executive and one other officer of the Company, resulting in additional gross proceeds of approximately $10.7 million to the Company and $22.6 million to the selling stockholders. The total net proceeds to the Company, after underwriting discounts, but before estimated expenses of the offering payable by the Company, were approximately $221.6 million.

            Blink intends to use the net proceeds from the 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.

            Barclays acted as the lead book-running manager for the public offering. H.C. Wainwright & Co., Roth Capital Partners and ThinkEquity, a division of Fordham Financial Management, Inc., acted as co-managers for the offering.

            The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-251919) filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 6, 2021, which became automatically effective. A final prospectus supplement describing the terms of the offering was filed with the SEC on January 8, 2021, and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Barclays, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: [phone], or by emailing [e-mail].