Wallbox signs restructuring plan with €11 million interim financing

Electric vehicle charging company Wallbox N.V. (NYSE: WBX) announced it has signed a restructuring plan and secured €11 million in interim financing to support its business operations.

The interim financing consists of a €5.65 million bridge loan from shareholders and a €5.35 million loan from participating banks. The bridge loan repayment is expected to be offset against equity subscription obligations under a planned capital increase. The bank loan counts toward an overall new financing cap of €12.5 million.

Financial creditors representing approximately 83% of the Group's financial debt have signed the restructuring plan, along with key shareholders and a new institutional investor. Participating entities include Banco Santander, Banco Bilbao Vizcaya Argentaria, CaixaBank, Instituto de Crédito Oficial, Mora Banc Grup, EBN Banco de Negocios, and the Generalitat de Catalunya through IFEM.

Key shareholders in the restructuring include Orilla Asset Management, Inversiones Financieras Perseo from the Iberdrola Group, AM Gestio, Consilium, Mingkiri, and CEO Enric Asunción through an investment vehicle.

The restructuring plan was formalized under Spanish restructuring framework and will be submitted for court approval at the Commercial Section of the Court of First Instance of Barcelona. Once sanctioned, the plan will become binding on all affected financial and non-financial creditors.

Wallbox, founded in 2015 and headquartered in Barcelona, provides electric vehicle charging and energy management solutions in more than 100 countries. The company operates offices across Europe, Asia, and America.

The funding is expected to be disbursed in the coming days to provide near-term liquidity for the company's business plan execution, according to the press release statement.

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