Blink Charging Co. has amended the terms of a $12.5 million convertible promissory note related to the sale of its Envoy Technologies business. The amendment, entered into on October 9, 2026, modifies the settlement mechanism for the note, which was issued as part of the June 5, 2026, sale of Envoy to BladeRanger Ltd.
Under the original terms, the note was to be settled at the earlier of a qualified liquidity event or its maturity date of July 22, 2029. The amended agreement, executed by Blink, BladeRanger, Envoy Technologies, and CID HoldCo, Inc., changes this structure. The note will now remain outstanding until specific conversion conditions are met, at which point it will convert into 2,166,667 shares of CID HoldCo common stock.
The Blink Conversion Conditions require two primary steps: CID HoldCo must receive stockholder approval for the Envoy transaction, and a registration statement on Form S-1 must be declared effective by the SEC. Once these conditions are satisfied, Blink will receive the Blink Conversion Shares via a dividend or distribution in kind on the first business day following the approval.
The shares are subject to a lock-up period beginning on the conversion date and ending on April 1, 2027, or six months after the conversion date, whichever comes first. Blink has the right to retain the note and elect conversion at maturity if the conditions are not met by the note's maturity date. Additionally, CID HoldCo may require a forced conversion of the note if its stockholders' equity falls below $3 million or if it receives a notice regarding Nasdaq listing compliance.
