BARCELONA,
Spain and WESTBURY, N.Y., July 22,
2021 /PRNewswire/ -- Wallbox, a leading provider of
electric vehicle (EV) charging solutions, today announced its
appointment of Francisco Riberas to
the Wallbox Board of Directors upon completion of Wallbox's
business combination with Kensington Capital Acquisition Corp. II
("Kensington") (NYSE: KCAC), which is expected in the third quarter
of 2021.
Riberas is currently the Executive Chairman of Gestamp, a
Spanish international automotive engineering group dedicated to
design, innovation and the manufacturing of metal components for
automobiles in 21 countries. Mr. Riberas founded Gestamp Automoción
in 1997 and served on its Board of Directors since its inception,
bringing nearly 25 years of experience in advising companies in the
automotive and sustainability verticals to Wallbox. Riberas also
sits on the management bodies for a variety of other companies
within the family group as well as companies outside of this group
such as Telefónica, CIE Automotive and General de Alquiler de
Maquinaria (GAM).
"We are honored to add Francisco
Riberas to Wallbox's Board of Directors and to bring his
vital industry insights and expertise to our organization," said
Enric Asunción, Co-Founder and Chief Executive Officer of Wallbox.
"Francisco's dedicated background in the management and advisement
of organizations in the automotive space, with a core focus on
innovation and sustainability initiatives, will help us further
expand our leading position in smart charging and energy management
solutions and ultimately promote the transition to greener
transportation and energy solutions worldwide."
"The future of the automotive industry lies in the hands of
organizations that are dedicated to transformation," said
Francisco Riberas. "As a leading
provider of cutting-edge solutions, Wallbox is a key innovator in
the future of transportation and electric vehicle charging. I look
forward to the opportunity to draw upon my experience and further
their mission to drive more sustainable practices for the industry
as a whole."
Justin Mirro, Chairman and Chief
Executive Officer of Kensington, added, "Naming Francisco Riberas
to the board is indicative of Wallbox's leadership in the space.
His hands-on experience with designing, analyzing and improving the
manufacturing processes for automobiles on a global scale will play
a vital role in helping the company continue to expand into new
markets and territories, and will be a fantastic addition to the
combined company's board."
About Wallbox
Wallbox is a global company, dedicated
to changing the way the world uses energy in the electric vehicle
industry. Wallbox creates smart charging systems that combine
innovative technology with outstanding design and manage the
communication between vehicle, grid, building and charger.
Wallbox offers a complete portfolio of charging and
energy management solutions for residential, semi-public and public
use in more than 60 countries.
Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate
the adoption of electric vehicles today to make more
sustainable use of energy tomorrow. The company employs
over 500 people in Europe,
Asia, and the Americas.
Wallbox and Kensington announced a business combination in
June 2021 that is expected to result
in Wallbox becoming a publicly traded company on the NYSE under the
ticker symbol "WBX".
For additional information, please visit www.wallbox.com.
About Kensington
Kensington Capital Acquisition Corp.
II (NYSE: KCAC) is a special purpose acquisition company formed for
the purpose of effecting a merger, stock purchase or similar
business combination with a business in the automotive and
automotive-related sector. The company is sponsored by Kensington
Capital Partners ("KCP") and the management team of Justin Mirro, Bob
Remenar, Simon Boag and
Dan Huber. The company is also
supported by a board of independent directors including
Tom LaSorda, Nicole Nason, Anders
Pettersson, Mitch Quain,
Don Runkle and Matt Simoncini. The Kensington team has
completed over 70 automotive transactions and has over 300 years of
combined experience leading some of the largest automotive
companies in the world.
For additional information, please
visit www.autospac.com.
Additional Information
This communication is being
made in respect of the proposed transaction involving Wallbox
Chargers, S.L. ("Wallbox"), Wallbox B.V. and Kensington Capital
Acquisition Corp. II ("Kensington"). This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities or a solicitation of any vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction. In
connection with the proposed transaction, Wallbox B.V. will file
with the Securities and Exchange Commission ("SEC") a registration
statement on Form F-4 that will include a proxy statement of
Kensington in connection with Kensington's solicitation of proxies
for the vote by Kensington's shareholders with respect to the
proposed transaction and other matters as may be described in the
registration statement. Wallbox and Kensington also plan to file
other documents with the SEC regarding the proposed transaction and
a proxy statement/prospectus will be mailed to holders of shares of
Kensington's Class A ordinary shares. BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE FORM F-4 AND
THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION
AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy
statement/prospectus, as well as other filings containing
information about Wallbox and Kensington will be available without
charge at the SEC's Internet site (www.sec.gov). Copies of the
proxy statement/prospectus can also be obtained, when available,
without charge, from Wallbox's website at
www.wallbox.com. Copies of the proxy statement/prospectus can
be obtained, when available, without charge, from Kensington's
website at www.autospac.com.
Participants in the Solicitations
Wallbox, Wallbox
B.V., Kensington and certain of their respective directors,
executive officers and other members of management and employees
may, under SEC rules, be deemed to be participants in the
solicitation of proxies from Kensington's shareholders in
connection with the proposed transaction. You can find more
information about Kensington's directors and executive officers in
Kensington's final prospectus dated February
25, 2021 and filed with the SEC on February 26, 2021. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests will be included
in the proxy statement/prospectus when it becomes available.
Shareholders, potential investors and other interested persons
should read the proxy statement/prospectus carefully when it
becomes available before making any voting or investment decisions.
You may obtain free copies of these documents from the sources
indicated above.
No Offer or Solicitation
This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of section 10 of the
Securities Act, or an exemption therefrom.
Caution About Forward-Looking Statements
The
information in this press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of present or historical fact
included in this press release, regarding Kensington's proposed
business combination with Wallbox, Kensington's ability to
consummate the transaction, the development and performance of
Wallbox's products (including the timeframe for development of such
products), the benefits of the transaction and the combined
company's future financial performance, as well as the combined
company's strategy, future operations, estimated financial
position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this press release, the words "are
designed to," "could," "should," "will," "may," "believe,"
"anticipate," "intend," "estimate," "expect," "project," the
negative of such terms and other similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Wallbox disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
hereof. Wallbox cautions you that these forward-looking statements
are subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
either Kensington or Wallbox. In addition, Wallbox cautions you
that the forward-looking statements contained herein are subject to
the following uncertainties and risk factors that could affect
Wallbox's and Kensington's future performance and cause results to
differ from the forward-looking statements herein: Wallbox's
ability to realize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition and the ability of Wallbox to grow and manage growth
profitably following the business combination; risks relating to
the outcome and timing of the Company's development of its charging
and energy management technology and related manufacturing
processes; intense competition in the electric vehicle charging
space; risks related to health pandemics, including the COVID-19
pandemic; the possibility that Wallbox may be adversely affected by
other economic, business, and/or competitive factors; the
possibility that the expected timeframe for, and other expectations
regarding the development and performance of, Wallbox products will
differ from current assumptions; the occurrence of any event,
change or other circumstances that could give rise to the
termination of the business combination; the outcome of any legal
proceedings that may be instituted against Kensington or Wallbox,
the combined company or others following the announcement of the
business combination; the inability to complete the business
combination due to the failure to obtain approval of the
shareholders of Kensington or to satisfy other conditions to
closing; changes to the proposed structure of the business
combination that may be required or appropriate as a result of
applicable laws or regulations; the ability to meet stock exchange
listing standards following the consummation of the business
combination; the risk that the business combination disrupts
current plans and operations of Kensington or Wallbox as a result
of the announcement and consummation of the business combination;
costs related to the business combination; changes in applicable
laws or regulations; and underlying assumptions with respect to
shareholder redemptions. Should one or more of the risks or
uncertainties described in this press release, or should underlying
assumptions prove incorrect, actual results and plans could
different materially from those expressed in any forward-looking
statements. Additional information concerning these and other
factors that may impact the operations and projections discussed
herein can be found in Kensington's periodic filings with the SEC,
and the proxy statement/prospectus of Wallbox B.V. in the
registration statement on Form F-4 filed with the SEC. Kensington's
and Wallbox B.V.'s SEC filings are available publicly on the SEC's
website at www.sec.gov.
Contacts:
For Wallbox
Investors
ICR, Inc.
investors@wallbox.com
Media
ICR, Inc
WallboxPR@icrinc.com
For Kensington
Dan
Huber
dan@kensington-cap.com
703-674-6514
Related Links:
www.wallbox.com
www.autospac.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/wallbox-appoints-francisco-riberas-to-post-merger-combined-company-board-of-directors-301339522.html
SOURCE Kensington Capital Acquisition Corp. II