Ideal Power Inc (NASDAQ:IPWR, FRA:5ILA) announced it has commenced an underwritten public offering of its common stock, subject to market conditions.
The company said it intends to use the net proceeds primarily to advance commercialization of its B-TRAN technology. Planned uses include supporting customer design-ins, funding custom development programs, and initiating production ramp-up with strategic partners.
The remaining proceeds are expected to be allocated to general corporate and working capital purposes.
Titan Partners, a division of American Capital Partners, is serving as the sole bookrunner.
Ideal Power noted there can be no assurance regarding the timing, size, or completion of the offering.