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Wallbox, a provider of electric vehicle (EV) charging solutions, will host an Investor Event on August 10, 2021, at 8:00 AM EDT. The event will feature presentations from key executives and a Q&A session. Wallbox is merging with Kensington Capital Acquisition Corp. II (NYSE: KCAC), and the new company will be listed under the symbol WBX post-transaction. This merger is expected to close in the third quarter of 2021, pending shareholder approval and other conditions. Wallbox aims to revolutionize energy use in the EV sector.
Wallbox has appointed Francisco Riberas to its Board of Directors following its business combination with Kensington Capital Acquisition Corp. II (NYSE: KCAC), expected in Q3 2021. Riberas, known for his leadership at Gestamp, brings 25 years of automotive experience to Wallbox, enhancing its focus on innovation and sustainability in the EV sector. His appointment aims to strengthen Wallbox's market position in smart charging solutions and promote greener transportation. The merger will lead to Wallbox's public trading under the ticker symbol 'WBX'.
Wallbox, a top provider of electric vehicle charging solutions, announced CEO Enric Asunción's participation in a U.S. trade mission alongside Spain's President, Pedro Sánchez, from July 21-23, 2021. The mission aims to enhance commercial collaboration between the U.S. and Spain, involving meetings with influential corporate leaders and government officials. Wallbox, founded in 2015, has sold over 100,000 charging units and recently announced its business combination with Kensington Capital Acquisition Corp. II (NYSE: KCAC), transitioning to public trading under the ticker 'WBX'.
Wallbox announced that Anders Pettersson will join its Board of Directors following its merger with Kensington Capital Acquisition Corp. II (NYSE: KCAC), anticipated in Q3 2021. Pettersson brings over 35 years of experience, notably as CEO of Thule Group, enhancing Wallbox's market position in EV charging. Co-Founder Enric Asunción emphasized Pettersson's expertise will support Wallbox's growth in smart charging and energy management. Kensington CEO Justin Mirro highlighted Pettersson's critical role in their business partnership decision. Wallbox operates in 67 countries and aims for broader EV market penetration.
Wallbox, a leader in electric vehicle (EV) charging solutions, announced a business combination with Kensington Capital Acquisition Corp. II, aiming to list on the NYSE under the symbol 'WBX'. The deal values Wallbox at an implied $1.5 billion and is expected to close in Q3 2021, pending stockholder approval. The transaction will provide Wallbox with approximately $330 million in proceeds, bolstered by a $100 million PIPE investment. Founded in 2015, Wallbox operates in 67 countries and focuses on smart charging and energy management solutions.
Kensington Capital Acquisition Corp. II (NYSE: KCAC) has appointed Nicole Nason to its Board of Directors, effective immediately. Nason, currently the Chief Safety Officer at Cavnue, has extensive experience in automotive transportation and safety, previously serving as the U.S. Federal Highway Administration's Administrator and Administrator of the National Highway Traffic Safety Administration. CEO Justin Mirro stated that her insights into automotive trends will be valuable for the company's pursuits in the sector. The Company is focused on mergers and acquisitions within the automotive-related industry.
Kensington Capital Acquisition Corp. II (NYSE: KCAC.U) announced that starting April 19, 2021, holders of its 23 million initial public offering units can trade shares of Class A common stock and redeemable warrants separately. The units will continue to trade under 'KCAC.U', while separated Class A common stock will trade as 'KCAC' and redeemable warrants as 'KCAC WS'. The initial public offering was completed on March 2, 2021, with a registration statement effective February 25, 2021. UBS Securities LLC and Stifel, Nicolaus & Company were the joint book runners for the offering.
QuantumScape Corporation has successfully completed its business combination with Kensington Capital Acquisition Corp (NYSE: KCAC). The merger, approved by KCAC stockholders on November 25, 2020, provides QuantumScape with approximately $680 million in net proceeds, supporting development and commercialization of its solid-state lithium-metal battery technology for electric vehicles. Shares of QuantumScape began trading under the ticker symbol 'QS' on November 27, 2020. This strategic move positions QuantumScape to capitalize on the growing electric vehicle market.
Kensington Capital Acquisition Corp. (NYSE: KCAC) announced the final exchange ratio of 4.02175014920 for its business combination with QuantumScape Corporation. This exchange ratio, set in accordance with the Business Combination Agreement, is higher than the previously disclosed ratio in their proxy statement dated November 12, 2020. The combination aims to solidify QuantumScape as a leader in solid-state battery technology for electric vehicles, with the expected Closing date and terms outlined in the agreement.
