Wall Box Chargers to go public through SPAC merger, valuing combined company at $1.5 billion

Dow Jones

09 Jun 2021

MW Wall Box Chargers to go public through SPAC merger, valuing combined company at $1.5 billion

Wall Box Chargers SL is set to go public, after the maker and distributor of electric vehicle charging stations announced an agreement to merge with special purpose acquisition company (SPAC) Kensington Capital Acquisition Corp. II $(KCAC)$, in a deal that will value the combined company at $1.5 billion. Kensington Capital's stock rose 2.9% in premarket trading. After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will be listed on the NYSE under the ticker symbol "WBX." The deal raises about $330 million in proceeds. Wall Box's largest institutional investor, Spain-based electricity generator Iberdola S.A. (IBE.MC), recently announced the acquisition of the first 1,000 Wallbox Supernova fast chargers. Kensington Capital's stock, which went public on April 19, closed Tuesday 1% below where it closed on April 19, while the Renaissance IPO ETF $(IPO.UK)$ has lost 1.6% over the same time and the S&P 500 has gained 1.5%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

June 09, 2021 06:50 ET (10:50 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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II</a> <a href=\"https://laohu8.com/S/KCAC\">$(KCAC)$</a>, in a deal that will value the combined company at $1.5 billion. Kensington Capital's stock rose 2.9% in premarket trading. After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will be listed on the NYSE under the ticker symbol \"WBX.\" The deal raises about $330 million in proceeds. Wall Box's largest institutional investor, Spain-based electricity generator Iberdola S.A. (IBE.MC), recently announced the acquisition of the first 1,000 Wallbox Supernova fast chargers. Kensington Capital's stock, which went public on April 19, closed Tuesday 1% below where it closed on April 19, while the <a href=\"https://laohu8.com/S/IPO\">Renaissance IPO ETF</a> <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> has lost 1.6% over the same time and the S&amp;P 500  has gained 1.5%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  June 09, 2021 06:50 ET (10:50 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Box Chargers to go public through SPAC merger, valuing combined company at $1.5 billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Box Chargers to go public through SPAC merger, valuing combined company at $1.5 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-09 18:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Wall Box Chargers to go public through SPAC merger, valuing combined company at $1.5 billion\n</p>\n<p>\n  Wall Box Chargers SL is set to go public, after the maker and distributor of electric vehicle charging stations announced an agreement to merge with special purpose acquisition company (SPAC) <a href=\"https://laohu8.com/S/KCAC.U\">Kensington Capital Acquisition Corp. II</a> <a href=\"https://laohu8.com/S/KCAC\">$(KCAC)$</a>, in a deal that will value the combined company at $1.5 billion. Kensington Capital's stock rose 2.9% in premarket trading. After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will be listed on the NYSE under the ticker symbol \"WBX.\" The deal raises about $330 million in proceeds. Wall Box's largest institutional investor, Spain-based electricity generator Iberdola S.A. (IBE.MC), recently announced the acquisition of the first 1,000 Wallbox Supernova fast chargers. 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II $(KCAC)$, in a deal that will value the combined company at $1.5 billion. Kensington Capital's stock rose 2.9% in premarket trading. After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will be listed on the NYSE under the ticker symbol \"WBX.\" The deal raises about $330 million in proceeds. Wall Box's largest institutional investor, Spain-based electricity generator Iberdola S.A. (IBE.MC), recently announced the acquisition of the first 1,000 Wallbox Supernova fast chargers. Kensington Capital's stock, which went public on April 19, closed Tuesday 1% below where it closed on April 19, while the Renaissance IPO ETF $(IPO.UK)$ has lost 1.6% over the same time and the S&P 500  has gained 1.5%. \n\n\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  June 09, 2021 06:50 ET (10:50 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}