Blink Charging issues shares and warrants to former Envoy Technologies holders

Blink Charging Co. (NASDAQ:BLNK), currently valued at $122 million in market capitalization, disclosed Friday that it has entered into a definitive agreement related to its acquisition of Envoy Technologies, Inc., according to a press release statement based on a filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains a stronger cash position than debt on its balance sheet, potentially supporting its acquisition strategy.

On August 26, Blink Charging finalized a warrant agreement with the former equityholders of Envoy Technologies, represented by Fortis Advisors LLC. This agreement follows an amendment to the original merger deal and resolves remaining payment obligations to Envoy Technologies’ former owners.

Under the terms, Blink Charging issued 9,696,882 shares of its common stock to the former equityholders of Envoy Technologies. The value of this stock issuance was set at $10 million, based on the volume-weighted average trading price for the 25 trading days before issuance. The stock has shown significant volatility recently, with InvestingPro data indicating a 26% return over the past week and trading at $1.18, well above its 52-week low of $0.63.

Additionally, Blink Charging agreed to issue warrants to purchase up to 3,898,177 shares of its common stock at an exercise price of $0.01 per share. The warrants, valued at $11 million in total, are divided into three tranches and will vest based on the company’s stock price meeting specified thresholds for seven consecutive trading days: $1.70, $2.10, and $4.85 per share.

The shares and warrant shares are subject to a 120-day leak-out period, during which holders may sell up to 2% of their shares per day and no more than 20% in any given month. Any unsold portion of the monthly limit does not carry forward. In the final 30 days of the period, up to 5% of the shares may be sold per day, still subject to the monthly cap. All sales must occur on the principal trading market.

The former equityholders were also granted registration rights for both the initially issued shares and those issuable upon warrant exercise. Blink Charging has agreed to file a resale registration statement with the SEC within 30 days of the amendment and seek its effectiveness within 90 days.

The warrants expire 20 months from August 19, 2025, and contain provisions for adjustments in the event of certain corporate actions. If a change of control or fundamental transaction occurs, unvested warrants become fully exercisable.

This information is based on a press release statement and SEC filing by Blink Charging Co.

In other recent news, Blink Charging Co. reported second-quarter 2025 revenue of $28.7 million, exceeding expectations of $25.19 million. This figure marks a 38% increase from the previous quarter and a 14% rise from the same period last year. However, the company’s earnings per share (EPS) fell short, with a reported loss of $0.26 compared to the anticipated loss of $0.16. In terms of analyst ratings, Benchmark maintained a Buy rating with a $2.00 price target, while H.C. Wainwright also reiterated a Buy rating but with a higher target of $5.00. Meanwhile, Needham maintained a Hold rating, citing a balanced outlook due to improving fundamentals and ongoing challenges in the EV charging sector. Additionally, Blink Charging announced a partnership with Nexxtlab to enhance energy management tools for electric vehicle fleets in Europe. This collaboration aims to integrate various components into a unified ecosystem across several European countries. These developments highlight Blink Charging’s strategic efforts to expand its market presence and improve its financial performance.

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