Press Releases

Press Releases

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DateTitle
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.

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.

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