Demand for Maxwell Technologies stock ticked up after the company made two financial announcements on June 11.
Maxwell (Nasdaq: MXWL) shares closed up almost 5 percent at $5.33 on June 11; shares appreciated by more than 9 percent on June 12, with a midday price of $5.83.
The San Diego business that makes power-storing ultracapacitors said on June 11 that it completed its sale of $10 million worth of stock via a previously announced, at-the-market equity offering. Maxwell’s agent sold 1.83 million shares at an average price of $5.46.
Shares are still near the low end of their 52-week range of $4.85 to $18.25.
Maxwell told regulators on April 23 that it planned to sell up to $10 million in stock. The company filed a $125 million shelf registration one year ago, saying it expected to sell stock for working capital and other general corporate purposes.
Also on June 11, the company said that it extended its line of credit with Wells Fargo Bank from June 15 to July 15, and that Maxwell continues to work toward a new, longer-term credit facility.
In 2014, Maxwell said it made about half of its revenue from customers in China.