Blink Charging Co (BLNK)

[duderaja]

Blink Charging Prices Offering of 5.4 Mln Shares at $41/Share
7:13 am ET January 8, 2021 (Dow Jones) Print

By Chris Wack


Blink Charging Co. said Friday it priced a previously announced underwritten registered public offering of 5.4 million shares of common stock at $41 each.

The company, which makes chargers for electric vehicles, said it expects to see proceeds of about $211.4 million.

All shares of common stock to be sold in the offering will be sold by the company, except that certain selling stockholders, together with Blink, will grant the underwriter for the offering a 30-day option to purchase up to 15% of the shares in the offering.

The offering is expected to close on or about Jan. 12.

Blink said it 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.

Blink shares were up 2% to $44.88 in premarket trading, after closing Thursday's session up 7%.