Amendment No. 1 to Agreement and Plan of Merger, dated as of March 10, 2025, by and among Blink Charging Co., Envoy Mobility, Inc. (formerly Blink Mobility, LLC), Envoy Technologies, Inc. and Fortis Advisors LLC, as equityholders' agent
Exhibit 2.1
Amendment No. 1 to Agreement and Plan of Merger
This Amendment No. 1, dated as of March 10, 2025 (this “Amendment”), to that certain Agreement and Plan of Merger, dated as of April 18, 2023 (the “Merger Agreement”), is made by and among Envoy Mobility, Inc., a Nevada corporation, formerly known as Blink Mobility, LLC (“Parent”), Envoy Technologies, Inc., a Delaware corporation (the “Company”), and Fortis Advisors LLC, a Delaware limited liability company (the “Equityholders’ Agent”). Parent, Company and Equityholders’ Agent are referred to herein sometimes individually as a “Party” and collectively herein as the “Parties.” Any capitalized terms used herein but not defined in this Amendment shall have the meaning ascribed to such terms in the Merger Agreement.
WHEREAS, Section 9.11 of the Merger Agreement requires a written instrument signed by the Parties to amend, supplement or change the Merger Agreement; and
WHEREAS, the Parties wish to (a) extend the Tertiary Qualified IPO Stock Date and HoldCo Stock Issuance Date, each as defined in the Merger Agreement, by 45 days, but only with respect to an underwritten initial public offering referred to in subsection (x) of Qualified IPO (it being agreed that Parent’s right to satisfy the Qualified IPO requirement pursuant to subsection (y) of Qualified IPO will expire by its terms on the 24 months anniversary), and (b) increase the Tertiary Qualified IPO Stock Consideration Value to $23,000,000.
NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound, the Parties agree as follows:
1. Amendments.
a. | The phrase “24 months anniversary” used twice in Section 2.1(c)(i)(4) of the Merger Agreement is deleted and replaced: |
i. | in the first instance in subsection (A) with “25.5 months anniversary (June 2, 2025) in the case of an underwritten initial public offering referred to in subsection (x) of Qualified IPO and 24 months anniversary in the case of a direct listing referred to in subsection (y) of Qualified IPO”; and |
ii. | in the second instance in subsection (B) with “25.5 months anniversary (June 2, 2025)”. |
b. | The phrase “Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000)” in the definition of Tertiary Qualified IPO Stock Consideration Value in the Merger Agreement is deleted and replaced with “Twenty-Three Million Dollars ($23,000,000)”. |
2. Registration Rights. In the event of an underwritten initial public offering referred to in subsection (x) of Qualified IPO, a prospectus covering the resale of the issuer’s shares issuable to the Equityholders will be filed as part of the IPO registration statement.
3. Certain Interpretation. For the avoidance of doubt, under no circumstance shall the period of 25.5 months after Closing referred to in Section 1(a) hereof apply to a direct listing referred to in subsection (y) of Qualified IPO in the Merger Agreement.
4. Miscellaneous Provisions.
a. Defined Terms. Capitalized terms not defined herein shall have the meanings ascribed to them in the Merger Agreement.
b. Binding Effect. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
c. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.
d. Agreement in Effect. Except as expressly provided herein, the execution and delivery of this Amendment shall not extend, modify or waive any term or condition of the Merger Agreement.
e. Governing Law. This Amendment shall be governed by, and construed under, the laws of the State of Delaware, and all rights and remedies being governed by said laws, without regard to principles of conflict of law.
[Signature Page Follows]
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 effective as of the day and year first above written.
Envoy Mobility, Inc. | ||
By: | /s/ Aviv Hillo, Esq. | |
Name: | Aviv Hillo, Esq. | |
Title: | General Counsel & EVP M&A | |
Envoy Technologies, Inc. | ||
By: | /s/ Aric Ohana | |
Name: | Aric Ohana | |
Title: | CEO | |
Fortis Advisors LLC, solely in its capacity as the Equityholders’ Agent | ||
By: | /s/ Ryan Simkin | |
Name: | Ryan Simkin | |
Title: | Managing Director |
Acknowledged, Accepted and Agreed:
Blink Charging Co.
By: | /s/ Michael Battaglia | |
Name: | Michael Battaglia | |
Title: | President and CEO |
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