Maxwell Technologies Merges With Tesla

By Chad Elmore18 February 2019

Maxwell Technologies Inc. a developer and manufacturer of energy solutions perhaps best known for its ultracapacitor-based Engine Start Module designed for heavy-duty trucks, has entered into a definitive agreement to be acquired by Tesla Inc.

The latter company will commence an all stock exchange offer for all the issued and outstanding shares of the company after which it will be merged with a Tesla subsidiary and become a wholly owned subsidiary of Tesla. The offer will value each share of Maxwell common stock at $4.75 per share. 

“We are very excited with today’s announcement that Tesla has agreed to acquire Maxwell. Tesla is a well-respected and world-class innovator that shares a common goal of building a more sustainable future,” said Dr. Franz Fink, president and Chief Executive Officer of Maxwell, San Diego, Calif. “We believe this transaction is in the best interests of Maxwell stockholders and offers investors the opportunity to participate in Tesla’s mission of accelerating the advent of sustainable transport and energy.”

The closing of the transaction is subject to the successful tender and exchange of shares, certain regulatory approvals and customary closing conditions.

NEWSLETTER
Delivered directly to your inbox, New Power Progress newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Mike Brezonick VP, Power Division Tel: +1 262 754 4112 E-mail: mike.brezonick@khl.com
Alister Williams VP Sales Tel: +1 843 637 4127 E-mail: alister.williams@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Proterra to deliver battery packs for electrified Komatsu mining machines
The machines will enter commercial production in 2022
Merecedes-Benz GenH2 truck receives road approval
License to use fuel-cell trucks on public roads seen as major step to series production
Hertz to buy 100,000 Tesla vehicles
The vehicle rental company will also invest in new charging infrastructure at its locations