AUSTIN, TX - Ideal Power Inc. (NASDAQ:IPWR), a company specializing in the development and commercialization of the B-TRAN™ semiconductor power switch, has announced the commencement of an underwritten public offering of its common stock.
The company, also offering pre-funded warrants in lieu of stock, has given the underwriter a 30-day option to purchase additional shares, up to 15% of the total number sold in the offering. The completion and terms of the offering are subject to market conditions, and there is no certainty regarding the final size or terms.
Titan Partners Group, a division of American Capital Partners, is the sole book-running manager for the offering. This offering follows Ideal Power's filing of a "shelf" registration statement with the Securities and Exchange Commission (SEC), which was declared effective on January 9, 2023.
Investors can access the preliminary prospectus supplement and accompanying prospectus by visiting the SEC's website or contacting Titan Partners Group directly. The offering is made only through these documents, and the sale of securities is not permitted in jurisdictions where such an offer or solicitation would be unlawful prior to registration or qualification under the applicable securities laws.
Ideal Power's proprietary B-TRAN™ technology aims to enhance the efficiency and environmental friendliness of energy control solutions across various applications, including electric vehicles, renewable energy, and industrial uses.
The company's focus is on the commercialization of this patented technology, which is expected to reduce losses, thermal management complexity, and operating costs in AC power switching and control circuitry.
The press release concludes by cautioning that statements regarding the offering are forward-looking and subject to risks, uncertainties, and other factors that could cause actual results to differ materially. Ideal Power has disclaimed any obligation to update or revise these forward-looking statements, except as required by law.
This article is based on a press release statement from Ideal Power Inc.
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