Ideal Power Inc. (NASDAQ: IPWR) announced it entered into definitive agreements with institutional investors for a registered direct offering of 5,291,005 shares of common stock, expected to generate gross proceeds of approximately $30 million.

The shares were priced at market under Nasdaq rules. The offering is expected to close on or about May 18, 2026, subject to customary closing conditions.

The Austin, Texas-based company develops the B-TRAN bidirectional semiconductor power switch. Ideal Power plans to use the net proceeds to advance commercialization of B-TRAN, including customer design-ins, custom development programs, initial production ramp with strategic partners, and general corporate and working capital purposes.

"This financing strengthens our balance sheet at a pivotal moment for Ideal Power," said David Somo, President and Chief Executive Officer. "With the accelerating demand for data centers and power, hyperscalers have focused on more efficient power architectures."

Titan Partners, a division of American Capital Partners, is serving as the sole placement agent for the financing.

The offering is being conducted under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on December 30, 2025, and declared effective on January 9, 2026.

The information is based on a company press release statement.