Ideal Power Inc (NASDAQ:IPWR, FRA:5ILA) announced that it has priced a $14 million financing, combining a $12.3 million public offering and $1.7 million private placement.
Led by existing institutional investors and including participation from its CEO and insiders, the proceeds will support the commercialization of its B-TRAN bidirectional semiconductor switch, including customer design-ins, development programs, and initial production ramp, as well as general corporate and working capital needs.
The financing is expected to close on February 25.