Press Releases

Press Releases

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DateTitle
11/8/2017 Maxwell Reports Third Quarter 2017 Results

SAN DIEGO, Nov. 8, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) today reported financial results for the three months ended September 30, 2017. Total revenues for the third quarter of 2017 were $35.8 million, compared with $37.1 million for the second quarter of 2017 and $25.5 million for the prior year quarter. Net loss for the third quarter of 2017 was $13.9 million, compared with a net loss of $10.1 million for the second quarter of 2017 and a net loss of $6.9 million for the prior year quarter. The Company reported $(2.1) million of adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) for the third quarter of 2017, compared with $(1.8) million for the second quarter of 2017 and $(2.3) million for the prior year quarter. Non-GAAP net loss for the third quarter of 2017 was $4.9 million, compared with a non-GAAP net loss of $5.5 million for the second quarter of 2017 and $5.6 million for the prior year quarter. Non-GAAP financial measures are described and defined later in this release.

10/24/2017 Maxwell Announces Third Quarter 2017 Earnings Release Date

SAN DIEGO, Oct. 24, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) announced today that it plans to release financial and operational results for the third quarter 2017 after market close on Wednesday, November 8, 2017. Following the release, Maxwell management will host a conference call with a live webcast to discuss these results. Other forward-looking and material information may also be discussed during this call.

10/12/2017 Maxwell Announces Full $6.0 Million Exercise of Convertible Notes Over-Allotment Option

SAN DIEGO, Oct. 12, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitor energy storage and power delivery solutions, announced the sale of an additional $6.0 million in aggregate principal amount of its 5.50% convertible senior notes due 2022 (the "additional notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the initial purchaser's exercise of their option to purchase additional notes. The sale of the additional notes settled on October 11, 2017 and the additional notes were sold on the same terms in all respects as the 5.50% convertible senior notes due 2022 previously issued on September 25, 2017 (the "base notes" and, together with the additional notes, the "notes"). Maxwell has issued a total of $46.0 million aggregate principal amount of the notes.

9/21/2017 Maxwell Announces Pricing of $40 Million of 5.50% Convertible Senior Notes Due 2022

SAN DIEGO, Sept. 20, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitor energy storage and power delivery solutions, today announced the pricing of its offering of $40 million aggregate principal amount of 5.50% Convertible Senior Notes due 2022 (the "notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Maxwell also granted to the initial purchaser of the notes a 30-day option to purchase up to an additional $6.0 million aggregate principal amount of the notes. The sale of the notes to the initial purchaser is expected to settle on September 25, 2017, subject to customary closing conditions, and is expected to result in approximately $37.4 million in net proceeds to Maxwell after deducting fees and estimated offering expenses payable by Maxwell (assuming no exercise of the initial purchaser's option to purchase additional notes).

9/19/2017 Maxwell Technologies Announces Amended Agreement with Viex Capital Advisors

SAN DIEGO, Sept. 19, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell" or the "Company"), a leading developer and manufacturer of capacitor energy storage and power delivery solutions, announced today that it entered into an Amended and Restated Agreement (the "Agreement") with Viex Capital Advisors, LLC and its affiliates ("Viex"), which amends and restates a prior agreement with Viex. In connection with entering into the new Agreement, including the removal by Viex of certain restrictive covenants in the Agreement, Maxwell agreed to provide a cash payment in the amount of $600,000 to Viex upon the closing of a successful convertible debt financing (the "Qualified Financing"); provided, however, that if Viex is eligible to participate in the Qualified Financing, then Viex has agreed to re-invest the cash consideration into the Qualified Financing. Additionally, Viex agreed to support certain initiatives related to the Company's 2018 Annual Meeting of Stockholders, including, notably, the nomination and election of directors standing for election at the meeting.

9/19/2017 Maxwell Announces Proposed Offering of $50 Million Convertible Senior Notes Due 2022

SAN DIEGO, Sept. 19, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitor energy storage and power delivery solutions, today announced its intention to offer, subject to market and other conditions, $50.0 million aggregate principal amount of convertible senior notes due 2022 (the "notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Maxwell also expects to grant the initial purchaser of the notes an option to purchase up to an additional $7.5 million aggregate principal amount of notes.

8/7/2017 Maxwell Reports Second Quarter 2017 Results

SAN DIEGO, Aug. 7, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) today reported financial results for the three months ended June 30, 2017. Total revenues for the second quarter of 2017 were $37.1 million, compared with $26.7 million for the first quarter of 2017 and $34.1 million for the prior year quarter. Net loss for the second quarter of 2017 was $10.1 million, compared with a net loss of $10.4 million for the first quarter of 2017 and net income of $2.2 million for the prior year quarter. The Company reported $(1.8) million of adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) for the second quarter of 2017, compared with $(3.9) million for the first quarter of 2017 and $(0.7) million for the prior year quarter. Non-GAAP net loss for the second quarter of 2017 was $5.5 million, compared with a non-GAAP net loss of $7.4 million for the first quarter of 2017 and $4.0 million for the prior year quarter. Non-GAAP financial measures are described and defined later in this release.

7/25/2017 Maxwell Announces Second Quarter 2017 Earnings Release Date

SAN DIEGO, July 25, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) announced today that it plans to release financial and operational results for the second quarter 2017 after the market close on Monday, August 7, 2017. Following the release, Maxwell management will host a conference call with a live webcast to discuss these results. Other forward-looking and material information may also be discussed during this call.

5/25/2017 Maxwell Chairman of the Board Transition

SAN DIEGO, May 25, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitive energy storage and power delivery solutions, announced today that David Schlotterbeck, Chairman of the Board of Directors, has decided to resign for personal reasons and that Mr. Steven Bilodeau, who joined the Board last year, has been appointed as his successor. In order to effect a smooth transition, Mr. Schlotterbeck plans to remain serving Maxwell as the Chairman of the Board until Maxwell's 2017 annual meeting of stockholders which is scheduled for July 13, 2017.

5/25/2017 Maxwell Announces Participation in the Cowen and Company 45th Annual Technology, Media & Telecom Conference

SAN DIEGO, May 25, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) announced today that Dr. Franz Fink, President and Chief Executive Officer, will participate on an Electric Vehicle panel at the Cowen and Company 45th Annual Technology, Media & Telecom Conference to be held at the Lotte New York Palace Hotel in New York, New York. The panel is scheduled to take place on Wednesday, May 31 beginning at approximately 1:00 p.m. Eastern Time.

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