\nWallbox (NYSE: WBX) today announced that it is expected to implement a 20-for-1 reverse stock split of all classes of the Company\u2019s ordinary shares. The reverse stock split is intended to bring the Company into compliance with the minimum bid price requirement set by the New York Stock Exchange (\u201cNYSE\u201d).<\/p>\n
\nWallbox shareholders approved at the Company\u2019s Annual General Meeting held on June 30, 2025 (\u201cAGM\u201d) a reverse stock split ratio within a range of 1-for-10 to 1-for-40 and authorized the Board of Directors to determine and execute the final ratio. The Company\u2019s Board of Directors subsequently approved the final reverse split ratio of 20-for-1 on the same date.<\/p>\n
\nWallbox\u2019s ordinary class A shares (\u201cClass A Shares\u201d) are expected to begin trading on a reverse split-adjusted basis at market open on July 3, 2025 under the existing trading symbol \u201cWBX\u201d with a new CUSIP number N94209 124 (\u201cEffective Date\u201d).<\/p>\n
\nOn the Effective Date, every 20 shares of Wallbox\u2019s issued and outstanding ordinary shares will be automatically combined into one ordinary share.<\/p>\n
\nThe reverse stock split will affect all shareholders uniformly and will not affect any shareholder\u2019s percentage ownership interest in the Company (except to the extent that the reverse stock split would result in any of the shareholders owning a fractional interest).<\/p>\n
\nShares held in registered form in the Company\u2019s shareholder register, or in the register maintained by the Company\u2019s U.S. transfer agent, Continental Stock Transfer & Trust Company, will be consolidated and converted on a split-adjusted basis. Any fractional shares resulting from the reverse split will be treated in accordance with the rights specified in the deed of amendment of the Company\u2019s articles of association to be executed prior to the Effective Date or such other instrument governing the right to the ordinary share. To the extent possible, fractional Class A Shares will be aggregated into whole shares and sold. Registered shareholders will receive a cash payment from Continental Stock Transfer & Trust Company in lieu of any fractional share resulting from this process.<\/p>\n
\nFor shareholders holding shares in \u201cstreet name\u201d through a bank, broker, or nominee, positions will be rounded down as a result of the share consolidation. Shareholders entitled to fractional Class A Shares will receive a cash payment from their respective bank, broker, or nominee in accordance with their procedures.<\/p>\n
\nIn addition to approving the reverse stock split, shareholders at the AGM, also approved the 2024 annual accounts, reappointed and appointed members of the Board of Directors, and authorized the Board to issue shares and to limit or exclude pre-emptive rights, among other proposals.<\/p>\n
\nAdditional information regarding the reverse stock split and other matters voted on at the AGM can be found in the Forms 6-K and exhibits thereto filed with the U.S. Securities and Exchange Commission on May 30, 2025 and July 2, 2025, and on Wallbox\u2019s Investor Relations website at investors.wallbox.com<\/a>.<\/p>\n About Wallbox<\/b><\/p>\n \nWallbox 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 the relationship between users and the network. Wallbox goes beyond charging electric vehicles 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 100 countries around the world. Founded in 2015 in Barcelona, where the company\u2019s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com<\/a><\/p>\n Forward Looking Statements<\/b><\/p>\n \nThis 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 \u201cSecurities Act\u201d) and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d). 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 reverse stock split and compliance with NYSE minimum listing requirements. The words \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cfocus,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201c\u201dtarget,\u201d will,\u201d \u201cwould\u201d 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\u2019s 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\u2019s ability to successfully manage its growth; the accuracy of Wallbox\u2019s forecasts and projections including those regarding its market opportunity; competition; risks related to losses or disruptions in Wallbox\u2019s supply or manufacturing partners; impacts resulting from geopolitical conflicts; risks related to macro-economic conditions and inflation; Wallbox\u2019s reliance on the third-parties outside of its control; risks related to Wallbox\u2019s technology, intellectual property and infrastructure; occurrence of any public health crisis or similar global events as well as the other important factors discussed under the caption \u201cRisk Factors\u201d in Wallbox\u2019s Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the \u201cSEC\u201d), accessible on the SEC\u2019s website at www.sec.gov<\/a> and the Investors Relations section of Wallbox\u2019s website at investors.wallbox.com. Any such forward-looking statements represent management\u2019s 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.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250702732221\/en\/<\/a><\/span><\/p>\n Wallbox PR Contact: KEYWORDS:<\/b> Spain Europe<\/p>\n INDUSTRY KEYWORDS:<\/b> Vehicle Technology EV\/Electric Vehicles Sustainability Alternative Energy Alternative Vehicles\/Fuels Batteries Energy Technology Automotive Environment Semiconductor Green Technology Other Technology<\/p>\n<\/p>\n
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Albert Cabanes
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press@wallbox.com<\/a><\/p>\n
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