Maxwell Tech +20% on $47M cash injection from Chinese group

|About: Maxwell Technologies, Inc. (MXWL)|By:, SA News Editor

Maxwell Technologies (NASDAQ:MXWL) +20.2% AH after sealing a stock purchase agreement with China's SDIC Fund Management that is expected to bring ~$47M into the company.

The deal, which values MXWL at $6.32/share, would raise SDIC Fund's ownership stake in the company to 19.9%.

MXWL also says it is entering a cooperation agreement with Viex Capital Advisors, including the appointment of a director selected by the P-E firm.