SAN DIEGO, Aug. 7, 2018 /PRNewswire/ -- 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 public follow-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 a 30-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 as Co-Manager for the offering.
A shelf registration statement on Form S-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.
Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and
uncertainties such as those, among others, relating to Maxwell's expectations regarding the completion, terms and size of its
proposed common stock offering. Among the factors that could cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties associated with market conditions, whether Maxwell will be able to
consummate the offering, the satisfaction of closing conditions related to the offering, as well as risks and uncertainties
associated with Maxwell's business and finances in general. For further information regarding risks and uncertainties associated
with Maxwell's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of
Operations" and "Risk Factors" sections of Maxwell's SEC filings, including, but not limited to, Maxwell's preliminary prospectus
supplement and accompanying prospectus relating to the offering, its annual report on Form 10-K and quarterly reports on
Form 10-Q. Forward-looking statements speak only as of the date the statements are made and are based on information available to
Maxwell at the time those statements are made and/or management's good faith belief as of that time with respect to future
events. Maxwell undertakes no duty to update any forward-looking statement to reflect actual results or changes in
Maxwell's expectations.
Media: John Sperrazzo, Eye-To-Eye Communications: +1 (858) 361-4495; john@eyetoeyepr.com
Investor: Kimberly Tom, CFA, Maxwell Technologies: +1 (858) 503-3368; ir@maxwell.com
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SOURCE Maxwell Technologies, Inc.