Wallbox Announces Private Placement of Class A Ordinary Shares
June 02 2023 - 8:45AM
Business Wire
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.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”) and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). All statements contained in
this press release other than statements of historical fact should
be considered forward-looking statements, including, without
limitation, statements regarding the private placement. The words
“anticipate,” “believe,” “can,” “continue,” “could,” “estimate,”
“expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “”target,” will,”
“would” and similar expressions are intended to identify
forward-looking statements, though not all forward-looking
statements use these words or expressions. These statements are
neither promises nor guarantees, but involve known and unknown
risks, uncertainties and other important factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements, including,
but not limited to: Wallbox’s history of operating losses as an
early stage company; the adoption and demand for electric vehicles
including the success of alternative fuels, changes to rebates, tax
credits and the impact of government incentives; Wallbox’s ability
to successfully manage its growth; the accuracy of Wallbox’s
forecasts and projections including those regarding its market
opportunity; competition; risks related to health pandemics
including those of COVID-19; losses or disruptions in Wallbox’s
supply or manufacturing partners; impacts resulting from the
conflict between Russia and Ukraine; risks related to
macro-economic conditions and inflation; Wallbox’s reliance on the
third-parties outside of its control; risks related to Wallbox’s
technology, intellectual property and infrastructure; as well as
the other important factors discussed and incorporated by reference
under the heading “Risk Factors” in Wallbox’s Annual Report on Form
20-F for the fiscal year ended December 31, 2022, and as such
factors may be updated from time to time in its other filings with
the Securities and Exchange Commission (the “SEC”), accessible on
the SEC’s website at www.sec.gov and the Investors Relations
section of Wallbox’s website at investors.wallbox.com. Any such
forward-looking statements represent management’s estimates as of
the date of this press release. Any forward-looking statement that
Wallbox makes in this press release speaks only as of the date of
such statement. Except as required by law, Wallbox disclaims any
obligation to update or revise, or to publicly announce any update
or revision to, any of the forward-looking statements, whether as a
result of new information, future events or otherwise.
Source: Wallbox NV
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Wallbox Investor Contact: Matt Tractenberg VP, Investor
Relations Matt.Tractenberg@wallbox.com +1 404-574-1504 Wallbox
Public Relations Contact: Elyce Behrsin Public Relations
Press@wallbox.com +34 622 513 358
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