Cuatrecasas advises SPAC Kensington Capital on merger with Wallbox and admission to trading on NYSE

Cuatrecasas has advised Kensington Capital Acquisition Corp. II, a special purpose acquisition company (SPAC), on a merger agreement with the company Wallbox, the leading supplier of EV-charging solutions.

This transaction will enable Wallbox to be listed in the New York Stock Exchange, with a valuation of USD 1.5 billion, becoming the first Spanish company to use the SPAC formula to gain access to the NYSE.

Cuatrecasas, Hughes Hubbard & Reed and Houthoff advised Kensington. The Cuatrecasas team included Antonio Baena, Pere Kirchner, Roger Freixes, Javier Rodriguez, Dèlcia Capocasale, Álvaro Bourkaib, Juan Bonilla, Juan Carlos Hernanz and Andrew Ward.

The transaction is expected to be completed in the third quarter of 2021, with Wallbox obtaining financing for USD 330 million, including a private investment in a public equity (PIPE) of USD 100 million.