12:09 PM EDT, 07/31/2024 (MT Newswires) -- Wallbox ( WBX ) said Wednesday it has secured a strategic investment of $45 million, including $35 million from lead investor Generac Power Systems (GNRC).

The vehicle charging technology company said it will sell 36.3 million Class A shares to Generac ( GNRC ) and other investors in a private placement that is expected to close on Aug. 5

Further details of the investment will be announced during Wallbox's ( WBX ) Q2 earnings call on Thursday, the company said.

Wallbox ( WBX ) shares were nearly 5% higher in recent trading.

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