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Maxwell Announces $10.4M Financing

Ultracapacitor maker Maxwell Technologies, Inc. has priced the sale of one million shares of its common stock in a public offering underwritten by UBS Investment Bank, resulting in gross proceeds to the company of $10.4 million.

All of the stock is being offered by the company, and the transaction is expected to close on May 14, 2007, subject to customary closing conditions. The company plans to use the proceeds for working capital and general corporate purposes. In addition, the company has granted UBS Investment Bank an over allotment option to purchase up to 150,000 additional shares.

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