Maxwell Receives Anticipated NASDAQ Notification Letter
SAN DIEGO, May 17, 2013
SAN DIEGO, May 17, 2013 /PRNewswire/ --Maxwell Technologies, Inc. (NASDAQ:
MXWL) announced today that it received on May 14, 2013, as anticipated, an
additional notification letter from the Listing Qualifications Department of
the NASDAQ Stock Market LLC ("NASDAQ") advising the company that, due to its
inability to file with the Securities and Exchange Commission its quarterly
report on Form 10-Q for the period ended March 31, 2013 on a timely basis, and
because the company remains delinquent in filing its Form 10-K for the fiscal
year ended December 31, 2012, the company is not in compliance with NASDAQ
Listing Rule 5250(c)(1) for continued listing. This notification was issued in
accordance with standard NASDAQ procedures and has no immediate effect on the
listing or trading of the company's common stock on the NASDAQ Global Market.
As previously disclosed, the company has until May 20, 2013 to submit a plan
explaining how it expects to regain compliance. If NASDAQ approves Maxwell's
plan, it can grant the company an extension of up to 180 calendar days from
the due date of the 2012 Form 10-K (or until September 16, 2013) to regain
compliance. The Company expects to be able to satisfy conditions for listing.
About Maxwell Technologies, Inc.
Maxwell is a leading developer and manufacturer 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, automotive, transportation and information technology.
Our high-voltage capacitor products 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, please visit our website: www.maxwell.com.
Media & Investor Contact: Michael Sund +1 (858) 503-3233; email@example.com
SOURCE Maxwell Technologies, Inc.
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