By Sheri Kasprzak
New York, Dec. 20 - Maxwell Technologies, Inc. said it concluded a $25 million private placement of convertible debentures.
The debentures mature in 2009, are convertible into shares at $19.00 each and bear interest at 5.375% annually.
The investors also received warrants for 394,737 shares, exercisable at $19.00 each.
The conversion price and warrant strike price is a 25% premium to the five-day volume-weighted average price of the company's stock.
Proceeds will be used for working capital and general corporate purposes.
Maxwell is a San Diego-based power backup and energy supply technology company.
| Issuer: | Maxwell Technologies, Inc.
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| Issue: | Convertible debentures
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| Amount: | $25 million
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| Maturity: | 2009
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| Coupon: | 5.375%
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| Price: | Par
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| Yield: | 5.375%
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| Conversion price: | $19.00
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| Warrants: | For 394,737 shares
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| Warrant strike price: | $19.00
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| Settlement date: | Dec. 20
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| Stock price: | $15.16 at close Dec. 20
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