04:28 AM EDT, 09/06/2024 (MT Newswires) -- Wallbox ( WBX ) unveiled Thursday a proposed secondary offering of up to about 49.8 million shares.

The company said its preliminary prospectus relates to the offer and sale from time to time in one or more offerings by selling security holders.

The offering includes about 36.3 million class A shares issued to certain selling security holders in connection with the closing on Aug. 5 of a private placement offering, and about 13.1 million class A shares issuable upon the exercise of warrants issued to Generac Power Systems.

The company will not receive any proceeds from selling the class A shares.

It expects to receive up to about $40 million from the exercise of warrants -- if exercised at all -- unless such warrants were exercised on a "cashless" basis.

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