Exhibit 99.1
| | | | |
| | | | FOR IMMEDIATE RELEASE |
| | | | Investor Contact: |
| | | | Kimberly Tom , CFA |
| | | | (858)503-3368 |
| | | | ir@maxwell.com |
Maxwell Commences Public Offering of Common Stock
SAN DIEGO – August 7, 2018 - Maxwell Technologies, Inc. (Nasdaq: MXWL) (“Maxwell”), a leading developer and manufacturer of capacitor energy storage and power delivery solutions, today announced that it has commenced an underwritten publicfollow-on offering of 6,000,000 shares of its common stock to be sold by the Company. In addition, the Company intends to grant the underwriters a30-day option to purchase up to 900,000 additional shares. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Maxwell intends to use the net proceeds from the offering for general corporate purposes, which may include research and development expenses, capital expenditures, working capital, possible repayment of debt and general and administrative expenses.
Barclays is acting as sole book running manager and Roth Capital Partners is acting asCo-Manager for the offering.
A shelf registration statement on FormS-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the “SEC”) and became effective on November 16, 2017. A preliminary prospectus supplement relating to the offering has been filed with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from the offices of Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at Barclaysprospectus@broadridge.com, or by telephone at (888)603-5847.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Maxwell Technologies
Maxwell is a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. We have developed and transformed our patented, proprietary and fundamental dry electrode manufacturing technology that we have historically used to make ultracapacitors to create a breakthrough technology that can be applied to the manufacturing of batteries. Our ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation, renewable energy and information technology. Our CONDIS® high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. For more information, visit www.maxwell.com.
