As the debenture holder elected to defer some quarterly repayment installments due in 2009, $8.3 million of the original $25 million principal remains outstanding. This amount is payable in equal installments in June, September and December 2011, or via conversion into Maxwell common stock at a price of $16.22 per share
Maxwell Technologies Nets $7.5 Million from Warrant Exercise
Maxwell Technologies, Inc. announced today that 462,461 warrants to purchase Maxwell common stock at a price of $16.22 per share were exercised in full on December 20, 2010, resulting in cash proceeds of approximately $7.5 million. The warrants were issued in conjunction with a private placement of a $25 million convertible debenture in December 2005.