New International Banks Join Wallbox’s Financial Restructuring Plan
• HSBC and Citibank join the agreement, strengthening international financial support for Wallbox’s restructuring plan
The Company believes the broad participation reflects the confidence of the financial sector in the viability of the restructuring plan signed on
“The support for our restructuring plan reflects growing confidence in a robust restructuring plan, and we believe underscores our partners’ confidence in Wallbox’s strategy and operational capabilities. This support allows us to continue moving forward with the implementation of the plan and the strengthening of our business,” said Enric Asunción, Co-founder and CEO of
Following the signing of the agreement,
The plan has been signed by the Company’s main financial creditors, including Spanish financial institutions, alongside international banks HSBC and Citibank. Other participating creditors include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), CaixaBank, Instituto de Crédito Oficial (ICO),
In addition, key strategic shareholders, including
The restructuring plan has been submitted for court approval before the
About
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, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 expected timing and completion of Wallbox’s planned restructuring, including the approval of the restructuring plan by the applicable Spanish court; the negotiation and execution of definitive agreements giving effect to the restructuring plan on the terms described herein; the expected completion of the capital increase; the anticipated repayment of the bridge loan by set-off against subscription obligations; the Group’s projected cash generation and debt service capacity; and the Group’s ability to implement its business plan following completion of the restructuring.
The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “likely,” “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: the risk that the restructuring plan may not be approved by the Spanish court or become effective on the anticipated timeline or at all; that the terms of the restructuring may be modified in the course of finalizing definitive documentation; as well as Wallbox’s history of operating losses; its ability to obtain adequate capital funding or improve its financial performance, as well as the other important factors discussed under the caption “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended
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