Blink Charging and Envoy Reach Agreement, Releasing Blink from all Payment Obligations and Liability

Core Points - Blink Charging Co. has reached a mutual agreement with former shareholders of Envoy Technologies to amend their original merger agreement, satisfying Blink's liability [1] - The amendment includes a payment obligation of $10 million in shares and $11 million in warrants, with specific vesting conditions based on stock price achievements [2][7] - Envoy's former equity holders will be subject to a 120-day leak-out period for the shares, limiting sales to 2% per day and 5% in the last 30 days, with a cap of 20% per month [3] Company Overview - Blink Charging is a global leader in electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation through innovative solutions [6] - The company operates the Blink Network, a proprietary, cloud-based software that manages and tracks EV charging stations and associated data [6] - Blink has established strategic partnerships for EV charging solutions across various locations, including residential, commercial, and public spaces [6] Envoy Overview - Envoy Technologies is a provider of on-demand electric vehicle car-sharing services, primarily for real estate communities [5] - The company offers all-electric car-sharing services in the U.S., enhancing mobility and reducing parking demand and individual car ownership [5] - Real estate developers can leverage Envoy's services to access development incentives, aligning with urban development goals [5]