SAN DIEGO, June 11, 2015 /PRNewswire/ -- Maxwell Technologies Inc. (Nasdaq: MXWL) announced today that it has completed the sale of approximately $10 million of the company's common stock through an at the market (ATM) equity offering announced April 23, 2015, and is terminating the offering, effective immediately. Approximately 1.83 million shares were sold in the offering at an average share price of $5.46.
The company also announced that it has negotiated an extension of its existing line of credit with Wells Fargo Bank from June 15 to July 15, 2015, while continuing to work on a longer term credit facility.
Additional details on the equity offering and new credit facility will be disclosed when the company reports financial results for the second quarter ended June 30, 2015.
Maxwell Technologies is a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. Our ultracapacitor products provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. 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. Our radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications. For more information, visit www.maxwell.com.
Media & Investor Contact: Michael Sund +1 (858) 503-3233; msund@maxwell.com
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SOURCE Maxwell Technologies, Inc.
