May 27, 2009 (FinancialWire) — Maxwell Technologies, Inc. (NASDAQ: MXWL) has closed its public offering of two million shares of Maxwell common stock at $8.80 per share. Roth Capital Partners, sole manager of the offering

The company plans to use proceeds of around $16.3 million, net of underwriting fees, for working capital and general corporate purposes. It has granted Roth Capital Partners an over allotment option to purchase up to 300,000 additional shares at the offering price.

With the closing of this offering, Maxwell has suspended the equity distribution program through which it previously had sold common stock.

San Diego-based Maxwell is a developer and manufacturer of energy storage and power delivery solutions. The company’s ultracapacitor cells and multi-cell modules are used for applications in consumer and industrial electronics, transportation and telecommunications.

The company’s high-voltage grading and coupling capacitors are used in electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Maxwell’s radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate commercial silicon for use in aerospace applications.

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