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 18,832,432 Class A ordinary shares for aggregate gross proceeds of $48.6 million to certain existing investors and strategic partners. Wallbox’s ordinary shares will be sold to such investors at a price of $2.58 per share, and the private placement is expected to close on June 15, 2023, 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 Orilla Asset Management, S.L. and other existing shareholders, including Enric Asunción, Co-founder and CEO of Wallbox. “We continue to execute our strategic plan and are very well positioned to lead the market as consumers around the world transition to EVs. This transaction is a testament to the exceptional business we have built and our long-term vision,” said Enric Asunción, Co-founder and CEO.

The offer and sale of the Class A 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.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 115 countries. Founded in 2015 and headquartered in Barcelona, the company now employs approximately 1,200 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.