Welcome to our dedicated page for Blink Charging Co. news (Ticker: BLNK), a resource for investors and traders seeking the latest updates and insights on Blink Charging Co. stock.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) is a prominent leader in the public electric vehicle (EV) charging sector in the United States. Headquartered in Florida, with additional offices in Arizona and California, Blink Charging is dedicated to accelerating the adoption of public EV charging. The company provides a range of EV charging equipment and connectivity solutions through its cloud-based Blink Network, which operates, manages, and tracks Blink EV charging stations and all associated data.
Blink Charging caters to a wide array of property partners, including multifamily residential complexes, commercial properties, airports, colleges, municipalities, parking garages, shopping malls, retail parking areas, schools, and workplaces. This diverse presence ensures that EV drivers can easily recharge their vehicles at a variety of convenient locations.
The company’s core business revolves around the sale and distribution of EV charging equipment and the revenues generated from customers and property partners who utilize equipment connected to its network. Blink Charging not only sells and installs charging stations but also offers a comprehensive suite of services to maintain and optimize their operation.
One of Blink Charging’s recent achievements includes the initial steps to provide twelve chargers at a high-volume sorting center in Rugby, UK. This marks a significant step in expanding their footprint beyond the United States. Additionally, the company has introduced Blink Care, an optional maintenance program designed to minimize charger downtime and enhance the overall charging experience for users.
Blink Charging’s strategic vision is further evidenced by its selection as one of the EV charging providers designated to support a more sustainable future by expanding charging infrastructure. Financially, Blink Charging maintains a robust position, with substantial proceeds from recent initiatives aimed at bolstering its market presence.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) has partnered with Hertz to offer free EV charging for customers renting electric vehicles in the greater Phoenix area during a major sporting event. From now until February 14, renters from participating Hertz locations will receive a Blink activation card, allowing them complimentary access to Blink's extensive network of Level 2 and DC Fast Chargers. Hertz expects to rent about 500 EVs for the event, promoting a transition to electric vehicles. Blink supports this initiative with a large local network, enhancing EV accessibility and convenience for travelers.
Blink Charging Co (Nasdaq: BLNK, BLNKW) has successfully closed its underwritten public offering, selling 8,333,333 shares of common stock at a price of $12.00 per share, generating gross proceeds of approximately $100 million. After underwriting discounts, the net proceeds are expected to be about $95 million. The funds will be used for deploying EV charging stations, acquiring competitive businesses, products, and technologies, as well as for general corporate purposes. Barclays acted as the sole book-running manager for the offering, with additional co-managers involved.
Blue Corner, a subsidiary of Blink Charging Company (Nasdaq: BLNK, BLNKW), has announced a 10-year collaboration with BluePoint to install 280 EV charging ports across Belgium. This initiative aims to support 2,000 member companies of AGORIA, a technology trade federation. The phased installation of the fast Level 2 chargers will commence over the next few years, addressing the rising demand for EV charging as sales grow. The EQ 200, a state-of-the-art charger developed by Blink Charging, will feature advanced functionalities such as Plug & Charge capability and connectivity with Home Energy Management Systems, contributing to a more sustainable future.
Blink Charging Co (Nasdaq: BLNK, BLNKW) announced the pricing of its upsized public offering of 8,333,333 shares at $12.00 per share, totaling approximately $100 million in gross proceeds. The expected net proceeds after underwriting discounts are around $95 million. The offering will close around February 9, 2023. Blink plans to utilize the funds for expanding EV charging stations, acquiring competitive businesses, and other corporate purposes. Barclays is the sole manager of the offering, with co-managers H.C. Wainwright & Co., Roth Capital Partners, and ThinkEquity involved.
Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced plans to offer and sell up to $75 million of its common stock in an underwritten registered public offering, with an additional 15% available for the underwriter. The offering, subject to market conditions, aims to fund EV charging station deployments, invest in complementary businesses, and support general corporate purposes. Barclays acts as the lead book-running manager. This offering will comply with the SEC regulations and is based on a previously filed shelf registration statement.
Blink Charging Co. (Nasdaq: BLNK, BLNKW) has taken decisive steps to combat suspected illegal trading activities, including naked short selling, which the company believes have negatively impacted its stock price. The firm has engaged Shareholder Intelligence Services to investigate unusual trading patterns and monitor shareholder ownership. Blink suspects its actual short position may exceed 30% as reported to FINRA. This action aims to protect shareholder investments and address market manipulation. Blink joins other public companies in this initiative, emphasizing the importance of integrity in the capital markets.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) has entered a national supplier agreement with Vizient, a major healthcare performance improvement company. This agreement enables Vizient members, representing over $130 billion in annual purchasing volume, to access Blink's EV charging stations and services. Members will benefit from negotiated pricing and various charging configurations, including DC fast chargers and wall-mounted options. Blink's flexible business models and commitment to customer service aim to enhance EV adoption and support Vizient's healthcare facilities with advanced charging technology.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) has signed a memorandum of understanding with EdgeEnergy to distribute and deploy EdgeEnergy's EdgeEV technology, which converts single-phase power into three-phase power for DC fast chargers. This partnership aims to accelerate the deployment of ultra-fast EV chargers, addressing grid constraints that hinder their installation. The EdgeEV technology allows for lower costs and quicker timelines for deploying charging stations without needing extensive grid upgrades.
Blink Charging Co. (NASDAQ: BLNK, BLNKW) has entered an exclusive agreement with Mitsubishi Motors North America to provide EV charging stations at all 323 U.S. dealerships. This partnership will deploy Blink’s MQ 200 and IQ 200 Level 2 chargers, as well as Blink DC Fast Chargers, enhancing Mitsubishi's EV infrastructure. The newly rebuilt Blink Network will offer improved onboarding and monitoring capabilities for dealership hosts, addressing the growing demand for EV charging solutions. This collaboration underscores Blink's commitment to facilitating EV mass adoption and aligns with global trends in electric vehicle purchases.
Blink Charging has announced a collaboration with Citybest to enhance the electric vehicle (EV) charging ecosystem in Latin America. The agreement includes the installation of 70 EV chargers, with 50 Blink MQ 200 chargers in Mexico and 20 Blink EQ 200 chargers in Chile. This initiative aims to support the growing demand for EVs, expected to rise above 1 million in the region by 2030. Charging will initially be free for Citybest drivers. Further installations in Colombia are set to commence in March 2023.
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