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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Wed., May. 27, 3:39 AM

Slide #23. Ideal Power Inc. Secondary Offering

Company: Ideal Power Inc. (NASDAQ:IPWR)
Date announced: 5/14/2015
Shares Offered: 1,935,500
Date of Pricing: 5/15/2015
Price Per Share: $7.75
Secondary Offering Details: Ideal Power Inc., a developer of innovative power conversion technologies, today announced the pricing of a $15 million underwritten public offering of 1,935,500 shares of its common stock at a public offering price of $7.75 per share. Ideal Power has also granted the underwriter a 30-day option to purchase up to an additional 290,325 shares of common stock to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by it, Ideal Power expects to receive net proceeds of approximately $13.8 million, assuming no exercise of the overallotment option. Ideal Power currently expects to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on or about May 20, 2015, subject to customary closing conditions.

Ideal Power develops power converter solutions for commercial and industrial grid storage, electric vehicle charging and photovoltaic generation. Co. has developed an electronic power conversion technology called Power Packet Switching Architecture (PPSA). In its PPSA technology, power flows through and is temporarily stored in an alternating current (AC) link magnetic storage component. After the AC link is charged, it is disconnected from both input and output, providing isolation without a transformer. Co. has developed two products, a 30 kilowatt (kW) photovoltaic (PV) inverter for the PV market and a 30kW battery converter for the distributed grid energy storage market.
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Company Name:  Ideal Power Inc
Sector:  Electronic Equipment & Products

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May 27, 2015    3:39 AM Eastern
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