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.
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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;
msund@maxwell.com
SOURCE Maxwell Technologies, Inc.