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News Link • Business/ Commerce

Tesla Makes Final Offer To Acquire Maxwell Technologies

•, By Mark Kane

The deal, announced earlier this year, is worth some $235 million and is to be completed through the exchange of common stock of Maxwell Technologies for shares of Tesla common stock (Maxwell common stock will be entitled to receive 0.0193 of a share of Tesla).

The deadline for the acquisition was set at 11:59 p.m., Eastern Time, on May 15, 2019.

"Tesla, Inc. today announced the final offer consideration for its previously announced offer to exchange all outstanding shares of common stock of Maxwell Technologies, Inc. for shares of Tesla common stock. Based on the terms of the previously announced merger agreement between Tesla and Maxwell, as well as the terms and conditions set forth in Tesla's exchange offer materials and related letter of transmittal, if the exchange offer is completed on its currently scheduled expiration date, each share of Maxwell common stock that is validly tendered in the offer and not withdrawn prior to the expiration date of the offer will be entitled to receive 0.0193 of a share of Tesla common stock, together with cash in lieu of any fractional shares of Tesla common stock, without interest and less any applicable withholding taxes.

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