Wallbox (NYSE: WBX) surged 11.29% in premarket trading following the announcement of a non-binding commercial agreement with core banking partners (Santander, BBVA, CaixaBank) and major shareholders to restructure its debt and inject €22.5 million in liquidity. The deal includes extending debt maturities to December 2030, refinancing €55 million in bilateral loans, and securing a €63.2 million PIK instrument, alongside a €5 million equity raise from key shareholders. This restructuring aims to stabilize Wallbox’s capital structure, enhance liquidity, and align stakeholders, bolstering confidence in its long-term financial resilience amid EV market challenges. The CEO and CFO emphasized the agreement’s role in reinforcing operational flexibility and supporting growth in the smart energy sector. Other news, including installation errors and partnerships, were deemed less material to the immediate price action.
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