M&A - Blink Charging Co.

Form Type: 8-K

Filing Date: 2025-05-21

Corporate Action: Merger

Type: Update

Accession Number: 000164117225011862

Filing Summary: On May 16, 2025, Blink Charging Co.'s indirect wholly owned subsidiary, Envoy Technologies, Inc., entered into Amendment No. 3 to the Agreement and Plan of Merger dated April 18, 2023. This Amendment extends the deadline for Envoy Technologies to complete a direct listing or an underwritten initial public offering until September 2, 2025. The previous deadline was April 18, 2025. This extension allows the issuance of shares of Envoy Technologies common stock to the former shareholders under the Merger Agreement. Additionally, the value of the shares to be issued to former shareholders increased from $23.0 million to $23.5 million. It also clarifies that cash proceeds from a sale of Envoy Technologies can be used as funding for cash payments to these shareholders instead of issuing shares during the direct listing or IPO.

Form Type: 10-Q

Filing Date: 2025-05-12

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225009753

Filing Summary: Blink Charging Co. reports its financial results for the quarter ended March 31, 2025, indicating total revenues of $20.754 million, down from $37.568 million in the same quarter of 2024. The company showed a net loss of $20.707 million, compared to a net loss of $17.173 million in the prior year. Key revenue components included product sales of $8.381 million and charging service revenue of $6.780 million. The cost of revenues totaled $13.385 million, leading to a gross profit of $7.369 million. Operating expenses increased, reaching $28.449 million, contributing to the overall loss from operations of $21.080 million. The balance sheet reveals total assets of $199.078 million against total liabilities of $96.475 million, reflecting a decrease in stockholders' equity to $102.603 million from $118.702 million. The company is actively managing its operational cash flows, reporting a negative cash flow from operating activities of $11.855 million during the quarter, while achieving a slight increase in cash and cash equivalents to $42.024 million at the end of the period. Furthermore, the subsidiary Envoy Technologies extended its merger conditions, and discussions around its IPO are underway following regulatory filings.

Form Type: 8-K

Filing Date: 2025-04-09

Corporate Action: Merger

Type: Update

Accession Number: 000164117225003426

Filing Summary: On April 4, 2025, Blink Charging Co.'s indirect wholly owned subsidiary, Envoy Technologies, Inc., entered into Amendment No. 2 to the Agreement and Plan of Merger. This Amendment extends the deadline for completing a direct listing of Envoy Technologies by 45 days, moving the date from April 18, 2025 to June 2, 2025. The extension allows for the issuance of shares of Envoy Technologies common stock to its former shareholders under the terms of the Merger Agreement, contingent on the successful completion of a direct listing on either the New York Stock Exchange or The Nasdaq Capital Market. The Amendment ensures that the shares listed will include those issuable to former shareholders as part of the Merger Agreement. The full text of the Amendment is included as Exhibit 2.1 of the filing.

Form Type: 8-K

Filing Date: 2025-03-14

Corporate Action: Merger

Type: Update

Accession Number: 000149315225010420

Filing Summary: On March 10, 2025, Blink Charging Co.'s indirect wholly owned subsidiary, Envoy Technologies, Inc., entered into Amendment No. 1 to the Agreement and Plan of Merger, originally dated April 18, 2023. This amendment extends the deadline for Envoy Technologies to complete an underwritten initial public offering from April 18, 2025, to June 2, 2025. As consideration for the extension, the value of shares to be issued to former shareholders of Envoy Technologies increased from $22.5 million to $23.0 million. Additionally, a prospectus covering the resale of these shares will be filed within the registration statement for the IPO. The Amendment is attached as Exhibit 2.1. The document was signed by Michael C. Battaglia, President and CEO of Blink Charging Co.