SCHEDULE: Wallbox N.V. Shareholder Disclosure Update

Orilla Asset Management converts debt to equity in Wallbox N.V., increasing its stake to 10.7% following a reverse stock split.

Summary

• This filing is an amendment to a previous Schedule 13D, reporting changes in beneficial ownership of Wallbox N.V. Class A Ordinary Shares.
• Orilla Asset Management, S.L. acquired 501,361 Class A Ordinary Shares on June 30, 2026, at a price of $2.7216 per share.
• This acquisition was made through the conversion of outstanding principal and accrued interest from a Loan Agreement into shares.
• No additional cash consideration was paid; the acquisition was settled by set-off against the debt owed by Wallbox N.V.
• Following this transaction, Orilla Asset Management, S.L. beneficially owns 2,539,771 shares, representing 10.7% of the outstanding Class A Ordinary Shares.
• Francisco Jose Riberas Mera is the managing director and controlling shareholder of Orilla Asset Management, S.L., and may be deemed to share beneficial ownership.
• The filing also notes a 20-for-1 reverse stock split effective July 3, 2025, which adjusted the nominal value and CUSIP number of the shares.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing, primarily due to the conversion of debt into equity which dilutes existing shareholders and the lack of new positive operational news.

Positives

• Orilla Asset Management, S.L. has increased its stake in Wallbox N.V., potentially indicating continued confidence in the company's long-term prospects.
• The conversion of debt into equity strengthens Wallbox N.V.'s balance sheet by reducing outstanding liabilities.

Negatives

• The conversion of debt into equity results in the issuance of new shares, which dilutes the ownership percentage of existing shareholders.
• The acquisition was a debt-for-equity swap, not an indication of new investment or operational growth.
• The filing does not provide any new operational or financial performance updates for Wallbox N.V.

Risks

• Potential for further dilution if other debt holders convert their obligations into equity.
• The company's financial health and ability to generate sufficient cash flow to service its remaining debt obligations.
• Market perception of debt-for-equity conversions, which can sometimes be viewed negatively by investors.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from management regarding future performance. The outlook is implicitly tied to the company's ability to manage its restructured balance sheet and operational performance.

Management Comments

• Francisco Jose Riberas Mera, as managing director and controlling shareholder of Orilla Asset Management, S.L., maintains voting and investment discretion with respect to the securities held.
• The acquisition was satisfied by set-off against the outstanding principal amount of, and accrued interest under, the Loan Agreement, discharging the corresponding indebtedness.

Industry Context

StockSavvy.ai notes that debt-for-equity conversions are a common, albeit sometimes contentious, tool for companies undergoing financial restructuring or seeking to reduce leverage. This action by Orilla Asset Management, S.L. places it as a significant shareholder, potentially influencing future strategic decisions at Wallbox N.V., a company operating in the competitive electric vehicle charging infrastructure market.

Related Party Transactions

• Orilla Asset Management, S.L. provided a bridge loan facility to Wallbox N.V. as part of the Issuer's restructuring.
• The conversion of this loan into Class A Ordinary Shares represents a related party transaction where debt owed by the Issuer to Orilla Asset Management, S.L. was settled by issuing shares.

Stakeholder Impact

• Shareholders: Potential dilution of ownership percentage due to the issuance of new shares.
• Creditors: Reduction in outstanding debt for Wallbox N.V., potentially improving its credit profile.
• Management/Board: Increased influence from Orilla Asset Management, S.L. as a significant shareholder.

Next Steps

• Continued monitoring of Wallbox N.V.'s operational performance and financial health.
• Observation of any future strategic decisions or announcements influenced by the increased stake of Orilla Asset Management, S.L.

Key Dates

Recommendation

The filing indicates a debt-for-equity conversion, which increases a significant shareholder's stake but also dilutes existing shareholders without providing new operational growth information. This neutralizes immediate positive or negative catalysts, suggesting a 'hold' position pending further operational or strategic developments from Wallbox N.V.

Keywords

Wallbox N.V., Schedule 13D, Orilla Asset Management, Beneficial Ownership, Debt Conversion, Equity, Reverse Stock Split, Shareholder