PALO ALTO, Calif.,May 16, 2019(GLOBE NEWSWIRE) --Tesla, Inc.(NASDAQ: TSLA) today announced the successful completion of its previously announced offer to exchange all outstanding shares of common stock ofMaxwell Technologies, Inc.(“Maxwell”) for 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.

The exchange offer expired at11:59 p.m., Eastern Time, on Wednesday, May 15, 2019.  As of the expiration of the exchange offer, a total of approximately 36,764,342 shares of common stock of Maxwell were validly tendered in the exchange offer and not validly withdrawn, representing approximately 79% of the aggregate voting power of the shares of Maxwell common stock outstanding immediately after the consummation of the exchange offer. All shares of Maxwell common stock that were validly tendered and not validly withdrawn prior to the expiration of the offer have been accepted by Tesla for payment in accordance with the terms of the exchange offer.