05:44 AM EDT, 03/26/2024 (MT Newswires) -- Ideal Power ( IPWR ) said late Monday it has priced its offering of 2 million common shares at $7.50 per share for estimated gross proceeds of about $15 million.

The underwriter has been granted a 30-day option to purchase up to 300,000 additional shares.

Net proceeds from the offering, which is set to close on Thursday, will be used for general corporate and working capital purposes, the company said.

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