Envoy Technologies, a Blink Charging Subsidiary, Files Registration Statement for Proposed Initial Public Offering of Shares
Blink Charging (NASDAQ: BLNK) has announced that its subsidiary Envoy Technologies has filed a registration statement with the SEC for a proposed Initial Public Offering (IPO). Envoy Technologies, a provider of electric vehicle car-sharing services and community-based EVs, plans to list its common stock on The Nasdaq Capital Market under the ticker symbol 'EVOY'.
The number of shares and price range for the proposed offering have not been determined yet. The IPO is subject to market conditions and SEC review process completion. The registration statement has been filed but is not yet effective, meaning no securities can be sold or offers to buy accepted at this time.
Blink Charging (NASDAQ: BLNK) ha annunciato che la sua filiale Envoy Technologies ha presentato una dichiarazione di registrazione alla SEC per una proposta di Offerta Pubblica Iniziale (IPO). Envoy Technologies, fornitore di servizi di car-sharing per veicoli elettrici e veicoli elettrici basati sulla comunità, prevede di quotare le sue azioni ordinarie sul Nasdaq Capital Market con il simbolo ticker 'EVOY'.
Il numero di azioni e il range di prezzo per l'offerta proposta non sono ancora stati determinati. L'IPO è soggetta alle condizioni di mercato e al completamento del processo di revisione della SEC. La dichiarazione di registrazione è stata presentata ma non è ancora efficace, il che significa che attualmente non possono essere venduti titoli né accettate offerte di acquisto.
Blink Charging (NASDAQ: BLNK) ha anunciado que su filial Envoy Technologies ha presentado una declaración de registro ante la SEC para una propuesta de Oferta Pública Inicial (IPO). Envoy Technologies, proveedor de servicios de car-sharing de vehículos eléctricos y vehículos eléctricos comunitarios, planea listar sus acciones ordinarias en el Nasdaq Capital Market bajo el símbolo de cotización 'EVOY'.
El número de acciones y el rango de precios para la oferta propuesta aún no se han determinado. La IPO está sujeta a las condiciones del mercado y a la finalización del proceso de revisión de la SEC. La declaración de registro ha sido presentada, pero aún no es efectiva, lo que significa que no se pueden vender valores ni aceptar ofertas de compra en este momento.
블링크 차징 (NASDAQ: BLNK)은 자회사 엔보이 테크놀로지스가 SEC에 제안된 기업공개(IPO)를 위한 등록 서류를 제출했다고 발표했습니다. 엔보이 테크놀로지스는 전기차 카쉐어링 서비스 및 지역 기반 전기차를 제공하는 회사로, 'EVOY'라는 티커 기호로 Nasdaq Capital Market에 보통주를 상장할 계획입니다.
제안된 공모의 주식 수와 가격 범위는 아직 결정되지 않았습니다. IPO는 시장 상황과 SEC 검토 절차 완료에 따라 달라집니다. 등록 서류는 제출되었지만 아직 효력이 발생하지 않아 현재로서는 증권을 판매하거나 구매 제안을 수락할 수 없습니다.
Blink Charging (NASDAQ: BLNK) a annoncé que sa filiale Envoy Technologies a déposé une déclaration d'enregistrement auprès de la SEC pour une proposition d'Offre Publique Initiale (IPO). Envoy Technologies, fournisseur de services de covoiturage de véhicules électriques et de véhicules électriques communautaires, prévoit de coter ses actions ordinaires sur le Nasdaq Capital Market sous le symbole boursier 'EVOY'.
Le nombre d'actions et la fourchette de prix pour l'offre proposée n'ont pas encore été déterminés. L'IPO est soumise aux conditions du marché et à l'achèvement du processus de révision de la SEC. La déclaration d'enregistrement a été déposée mais n'est pas encore effective, ce qui signifie qu'aucun titre ne peut être vendu et aucune offre d'achat acceptée pour le moment.
Blink Charging (NASDAQ: BLNK) hat angekündigt, dass ihre Tochtergesellschaft Envoy Technologies eine Registrierungsanmeldung bei der SEC für ein vorgeschlagenes Börsengang (IPO) eingereicht hat. Envoy Technologies, Anbieter von Carsharing-Diensten für Elektrofahrzeuge und gemeinschaftlich genutzten EVs, plant, ihre Stammaktien unter dem Tickersymbol 'EVOY' am Nasdaq Capital Market zu listen.
Die Anzahl der Aktien und der Preisbereich für das vorgeschlagene Angebot wurden noch nicht festgelegt. Der IPO unterliegt den Marktbedingungen und dem Abschluss des SEC-Prüfungsverfahrens. Die Registrierungsanmeldung wurde eingereicht, ist jedoch noch nicht wirksam, was bedeutet, dass derzeit keine Wertpapiere verkauft oder Kaufangebote angenommen werden können.
- Potential value creation through IPO of subsidiary Envoy Technologies
- Planned listing on Nasdaq Capital Market indicates significant market potential
- Strategic move to separate car-sharing business unit could unlock shareholder value
- Potential dilution of Blink's ownership in Envoy Technologies post-IPO
- Uncertainty regarding offering size and pricing
Insights
The S-1 filing for Envoy Technologies represents a strategic pivot that could significantly strengthen Blink Charging's financial position. With a current market cap of
The choice of listing on the Nasdaq Capital Market is particularly noteworthy. This venue typically attracts growth-stage companies with lower listing requirements compared to the Nasdaq Global Market, suggesting a balanced approach between maximizing visibility and managing compliance costs. While specific details about share numbers and pricing remain undisclosed, this strategic decision could provide Blink with several advantages:
- Potential to unlock hidden value by creating two pure-play companies focused on distinct segments of the EV ecosystem
- Opportunity to strengthen Blink's balance sheet through partial monetization while maintaining strategic control
- Enhanced ability to pursue independent growth strategies while maintaining operational synergies
The timing of this IPO filing is intriguing given the current market dynamics. The EV car-sharing sector represents a growing market segment, with increasing urbanization and sustainability initiatives driving adoption. This separation could allow both entities to attract segment-specific investors and potentially command better valuations than as a combined entity.
From a strategic perspective, this move could enable Blink to focus more intensively on its core EV charging infrastructure business while maintaining exposure to the growing car-sharing market through its remaining ownership in Envoy. The success of this IPO could set a precedent for other EV charging companies looking to optimize their corporate structures and unlock value from subsidiary operations.
Bowie, Md., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink”), a leading global owner, operator, provider and manufacturer of electric vehicle (EV) charging equipment and services, has announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") to sell shares of its subsidiary Envoy Technologies, Inc. (“Envoy”), a leading provider of electric vehicle car-sharing services and community-based EVs.
The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is subject to market and other conditions, and the completion of the SEC's review process.
Envoy Technologies, a subsidiary of Blink Charging, applied to list its common stock for trading on The Nasdaq Capital Market under the ticker symbol "EVOY."
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act and other applicable securities laws.
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About Envoy
Envoy is a pioneering EV fleet technology and electric car-sharing service provider headquartered in Culver City, CA. Envoy’s offerings include all-electric car-sharing services in the United States for private properties as an amenity such as apartments, hotels, and workplaces. Real estate owners and operators cooperate with Envoy to introduce community shared mobility programs that enrich the lives of their residents, members, and guests enhancing mobility as part of their lifestyle. Envoy's amenity services support nationwide goals to reduce parking demand and individual car ownership. Developers can leverage Envoy’s inclusion in their projects to access development incentives, aligning with urban development goals.
About Blink Charging
Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to Envoy Technologies’ proposed initial public offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including that the conditions to completing the initial public offering are not satisfied. Envoy Technologies undertakes no obligation to update any such forward-looking statements after the date hereof, except as required by law.
Contacts:
Blink Investor Relations Contact
Vitalie Stelea
IR@BlinkCharging.com
305-521-0200 ext. 446
Blink Media Contact
Nipunika Coe
PR@BlinkCharging.com
305-521-0200 ext. 266
Envoy Technologies, Inc.
c/o Marilyn Mota
PR@envoythere.com
FAQ
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