Press Releases

Press Releases

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DateTitle
5/9/2017 Maxwell Reports First Quarter 2017 Results

Maxwell Technologies, Inc. (NASDAQ: MXWL) today reported operational and financial results for the three months ended March 31, 2017. Total revenues for the first quarter of 2017 were $26.7 million, compared with $26.4 million for the fourth quarter of 2016 and $35.2 million for the prior year quarter. Net loss for the first quarter of 2016 was $10.4 million, compared with a net loss of $12.2 million for the fourth quarter of 2016 and a net loss of $6.8 million for the prior year quarter. The Company reported $(3.9) million of adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) for the first quarter of 2017, compared with $(3.9) million for the fourth quarter of 2016 and $(1.3) million for the prior year quarter. Non-GAAP net loss for the first quarter of 2017 was $7.4 million, compared with a non-GAAP net loss of $7.5 million for the fourth quarter of 2016 and $4.3 million for the prior year quarter. Non-GAAP financial measures are described and defined later in this release.

5/1/2017 Maxwell Technologies names Thibault Kassir VP and GM, Energy Storage Products

SAN DIEGO, May 1, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of ultracapacitor-based energy storage and power delivery solutions, today announced the appointment of Thibault Kassir as Vice President and General Manager, Energy Storage Products. With over 24 years of business and technical knowledge combined with considerable experience in Asia, Kassir will oversee Maxwell's global energy storage product line, tasked to build on recent momentum and to drive future growth.

4/28/2017 Maxwell Completes Acquisition of Nesscap Energy Business

SAN DIEGO, April 28, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitive energy storage and power delivery solutions, announced today that it has successfully completed its acquisition of substantially all of the assets and business, including the operating entities, of Nesscap Energy, Inc. ("Nesscap") pursuant to the arrangement agreement that was announced on February 28, 2017. Maxwell issued approximately 4.15 million shares and assumed ordinary course liabilities of the business in consideration for the purchase of the Nesscap business.

4/10/2017 Maxwell Technologies Announces Agreement with Viex Capital Advisors

SAN DIEGO, April 10, 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 a cooperation agreement with Viex Capital Advisors, LLC and its affiliates ("Viex") under which the Maxwell Board has agreed to appoint Mr. John Mutch as an independent director and to nominate Mr. Mutch for election at the 2017 Annual Meeting of Stockholders as a Class III director of the Company for a term expiring in 2020. Mr. Mutch was selected by Viex but is not an affiliate or associate of Viex. Additionally, the Company and Viex have agreed that, following the 2017 Annual Meeting, the Board will reduce its size to eight, including the Viex nominee.

4/10/2017 Maxwell Signs $47 Million Strategic Equity Investment Agreement with China's SDIC Fund Management Co., Ltd.

SAN DIEGO, April 10, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell"), a leading developer and manufacturer of capacitive energy storage and power delivery solutions, today announced the signing of a stock purchase agreement (the "Agreement") with SDIC Fund Management Co., Ltd. ("SDIC Fund Management"). SDIC Fund Management has significant investments in China's energy storage industry, including top battery companies, major system integrators in the new energy market, as well as leading OEMs in the China auto and grid industries. Following the closing of the transaction, SDIC Fund Management's ownership stake in Maxwell's common stock is anticipated to represent approximately 19.9% of Maxwell's total issued and outstanding shares of common stock on a pre-issuance basis. The purchase price is $6.32 per share, which represents a 16% premium over today's closing price, and will bring approximately $46.6 million in cash to Maxwell before transaction costs.

3/7/2017 Maxwell Announces Participation in 29th Annual ROTH Conference

SAN DIEGO, March 7, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) announced today that Dr. Franz Fink, President and Chief Executive Officer, will present at the 29th Annual ROTH Conference to be held at The Ritz-Carlton in Dana Point, California. The presentation is scheduled to take place on Tuesday, March 14 beginning at approximately 5:00 p.m. Pacific Time.

2/28/2017 Maxwell Technologies to Acquire Nesscap Energy Business

SAN DIEGO and SEOUL, South Korea, Feb. 28, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) ("Maxwell") and Nesscap Energy Inc. (TSX VENTURE: NCE) ("Nesscap"), leading developers and manufacturers of capacitive energy storage and power delivery solutions, today announced that they have entered into an agreement (the "Arrangement Agreement") in which Maxwell proposes to acquire substantially all of the assets and business of Nesscap (the "Arrangement" or the "Transaction").

2/28/2017 Maxwell Reports Fourth Quarter 2016 Results and Executes Key Strategic Actions

SAN DIEGO, Feb. 28, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL) today reported operational and financial results for the three months ended December 31, 2016. Total revenues for the fourth quarter of 2016 were $26.4 million, compared with $25.5 million for the third quarter of 2016 and $49.8 million for the prior year quarter. Net loss for the fourth quarter of 2016 was $12.2 million, compared with a net loss of $6.9 million for the third quarter of 2016 and a net loss of $2.2 million for

2/27/2017 Maxwell Announces July 13 as Updated Date for 2017 Annual Meeting of Stockholders

SAN DIEGO, Feb. 27, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL), a leading developer and manufacturer of capacitor-based energy storage and power delivery solutions, announced today that the 2017 Annual Meeting of Stockholders has been rescheduled from Wednesday, May 10, 2017 to Thursday, July 13, 2017. Pursuant to the company's Bylaws, as amended on February 24, 2017, the deadline for properly presented stockholder proposals, including director nominations, is April 14, 2017.

2/7/2017 Maxwell Announces Fourth Quarter 2016 Release Date

SAN DIEGO, Feb. 7, 2017 /PRNewswire/ -- Maxwell Technologies, Inc. (NASDAQ: MXWL), announced today that it plans to release financial and operational results for the fourth quarter 2016, after market close on Tuesday, February 28, 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.

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