Blink Charging Co. ( BLNK ) shares are trading lower on Wednesday.

The company announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a public offering of shares in its subsidiary, Envoy Technologies, Inc., an electric vehicle car-sharing services and community-based EVs.

Envoy intends to list its common stock on The Nasdaq Capital Market under the ticker symbol “EVOY.”

While the number of shares and the price range for the offering have not yet been determined, Blink noted that the IPO is subject to market conditions and SEC review.

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Last month, Blink shared positive news regarding a longstanding legal matter with the SEC.

In January, the company received written notice from the SEC that it had concluded its investigation and would not recommend enforcement action against Blink.

Blink’s General Counsel, Aviv Hillo, then emphasized that the closure of the investigation eliminates a source of legal expenses, contributing to reduced operating costs.

On February 4, Blink announced the planned transition of Mike Battaglia to the role of President & CEO. This move followed the planned retirement of Brendan Jones. 

Price Action: BLNK shares are trading lower by 1.76% to $1.041 at last check Wednesday.

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