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Wallbox N.V. (NYSE:WBX) reported Wednesday that a group of additional lenders have joined its previously disclosed standstill agreement with the company’s main banking partners. The information was provided in a press release statement and detailed in a filing with the U.S. Securities and Exchange Commission.
According to the filing, on November 7, Instituto de Crédito Oficial E.P.E., Institut Català de Finances, Mora Banc Grup, S.A., EBN Banco de Negocios, S.A., and Compañía Española de Financiación del Desarrollo, COFIDES, S.A., S.M.E. acceded to the agreement. These institutions join the majority lenders—Banco Santander, S.A., Banco Bilbao Vizcaya Argentaria, S.A., and CaixaBank, S.A.—who entered into the agreement with Wallbox on October 9.
The standstill agreement was structured so that these lenders would join within one month of its signing. Wallbox stated that certain other minority lenders were also expected to accede within this timeframe. As of Wednesday, these minority lenders have not yet joined, but the participating lenders have not exercised their right to terminate the agreement due to this non-accession. Wallbox continues to seek their participation.
The company said the agreement and lender accessions were previously outlined in an earlier SEC filing. No additional financial details or terms of the agreement were disclosed in the latest statement.
This summary is based on information provided by Wallbox N.V. in a press release statement and its SEC filing.
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