Wallbox Announces Private Placement of Class A Ordinary Shares
Wallbox N.V. (NYSE:WBX) (“Wallbox”), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced a private placement of ordinary shares pursuant to which Wallbox will sell 8,176,694 Class A ordinary shares for aggregate gross proceeds of $43.5 million to certain existing investors and strategic partners. Wallbox’s ordinary shares will be sold to such investors at a price of $5.32 per share, and the private placement is expected to close on December 5, 2022, subject to the satisfaction of customary closing conditions. Wallbox has also agreed to file a registration statement for the resale of the ordinary shares purchased pursuant to the private placement.
This transaction is designed to further strengthen the company’s balance sheet and provide growth capital that will enable the continued execution of its strategic plan. Participants include, but are not limited to, Iberdrola and Kensington Capital Partners, both strategic partners and current shareholders, Orilla Asset Management and Quadis, which are current shareholders and board members, and Enric Asunción, Co-founder and CEO of Wallbox. “Our ability to raise this capital from trusted investors and board members, many of whom were early investors in Wallbox, is a testament to their continued trust in our business plan, execution and the leadership position we’ve built in a very attractive market,” said Enric Asunción, Co-founder and CEO.
The offer and sale of the ordinary shares has not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or any other securities laws, and the ordinary shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.