Blink Charging settles with Envoy shareholders for $21 million

Blink Charging Co. (NASDAQ: BLNK) reached an agreement with former Envoy Technologies shareholders to settle all payment obligations and liabilities through $10 million in common stock and $11 million in warrants, according to a company statement.

The settlement amends Blink's original merger agreement with Envoy, a car-sharing service provider that became a wholly-owned subsidiary. Under the new terms, Blink will issue $10 million worth of common stock valued at the 25-day volume-weighted average trading price preceding the issuance date.

The warrant component includes three tranches with specific vesting conditions tied to Blink's stock price performance. Former Envoy shareholders will receive $2.5 million in warrants vesting when Blink shares reach $1.70 for seven consecutive days, another $2.5 million tranche vesting at $2.10 per share for seven days, and $6 million in warrants vesting when shares hit $4.85 for seven consecutive days.

All issued shares will be subject to a 120-day leak-out period limiting daily sales to 2% of holdings, with 5% allowed in the final 30 days and a monthly cap of 20%.

Envoy provides electric vehicle car-sharing services for residential and commercial properties including apartments, hotels and workplaces. The company operates from Culver City, California, and focuses on reducing parking demand and individual car ownership through shared mobility programs.

Blink operates electric vehicle charging equipment and services globally, including the Blink Network of charging stations managed through cloud-based software. The company has partnerships across various location types including parking facilities, workplaces, airports and retail locations.

The company postponed its second quarter 2025 results conference call and will announce a new date.

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