| Delaware | | | 14-1999058 | |
| |||||
(State | |||||
incorporation or organization) | | | (I.R.S. Employer Identification | |
| Large accelerated filer ☐ | | | Accelerated filer ☐ | |
| Non-accelerated filer ☒ | | | Smaller reporting company ☒ | |
| | | | ☐ | |
Title of each class of securities to be registered (1) | Amount to be Registered (2)(3) | Proposed maximum offering price per security (3) | Proposed maximum aggregate offering price (3) | Amount of registration fee | ||||||||||
Common Stock, par value $0.001 per share | 5,220,826 shares | $ | 3.200 | $ | 16,706,643.20 | $ | 1,936.30 | |||||||
Common Stock, par value $0.001 per share, underlying Preferred Stock | 708,430 shares | $ | 3.200 | $ | 2,266,976.00 | $ | 262.75 | |||||||
Common Stock, par value $0.001 per share, underlying Warrants | 6,166,426 shares | $ | 3.200 | $ | 19,732,563.20 | $ | 2,287.00 | |||||||
Total: | 12,095,682 shares | $ | 38,706,182.40 | $ | 4,486.05 |
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Shares Beneficially Owned | Maximum Number of Shares to be Sold Hereunder | Shares Beneficially Owned After the Sale of the Maximum Number of Shares | |||
Name of Selling Stockholder | Number | Percent | Number | Percent | |
Executive Officers and Directors: | |||||
R. Daniel Brdar, Chief Executive Officer and Director (1) | 331,550 | 2.3% | 39,400 | 292,150 | 2.0% |
Timothy Burns, Chief Financial Officer (2) | 111,600 | * | 15,600 | 96,000 | * |
William C. Alexander, Chief Technology Officer and Director (3) | 492,095 | 3.5% | 15,600 | 476,495 | 3.4% |
Ryan K. O’Keefe, Senior Vice President, Business Development (4) | 52,100 | * | 15,600 | 36,500 | * |
Mark Baum, Director (5) | 134,434 | * | 15,600 | 118,834 | * |
Lon E. Bell, Director (6) | 362,293 | 2.6% | 157,600 | 204,693 | 1.5% |
David B. Eisenhaure, Director (7) | 92,501 | * | 39,400 | 53,101 | * |
Significant Stockholders: | |||||
Peter A. Appel (8) | 1,929,626 | 9.99% (9) | 788,800 | 1,140,826 | 8.0% |
Special Situations Fund III QP, L.P. (10) | 2,036,328 | (11) | 1,190,404 | 973,188 | (11) |
Special Situations Cayman Fund, L.P. (10) | 591,941 | (11) | 346,040 | 282,899 | (11) |
Special Situations Technology Fund, L.P. (10) | 211,700 | (11) | 123,756 | 101,126 | (11) |
Special Situations Technology Fund II, L.P. (10) | 1,208,826 | (11) | 706,660 | 577,419 | (11) |
Other Selling Stockholders: | |||||
1999 Clifford Family Trust dtd 12-22-1999 Robert C Clifford & Rachel L Clifford (12) | 20,000 | * | 20,000 | – | * |
Alexandre Palma (13) | 19,600 | * | 19,600 | – | * |
Alok Mahajan (14) | 19,600 | * | 19,600 | – | * |
Andrew Nolan (15) | 19,600 | * | 19,600 | – | * |
Andrew Schwartzberg (16) | 720,000 | 5.0% | 720,000 | – | * |
Anthony D. Johnston (17) | 19,600 | * | 19,600 | – | * |
Anthony J. Berni (18) | 19,600 | * | 19,600 | – | * |
Anthony J. Brent & Alexandra H. Brent JT TEN (19) | 34,000 | * | 34,000 | – | * |
Ballington Living Trust 08/05/14 (20) | 59,160 | * | 59,160 | – | * |
Benjamin King (21) | 20,000 | * | 20,000 | – | * |
Benjamin L. Padnos (22) | 97,260 | * | 80,000 | 17,260 | * |
Bennett Living Trust (23) | 14,000 | * | 14,000 | – | * |
Bibicoff Family Trust (24) | 17,000 | * | 17,000 | – | * |
Brian L. Heckler (25) | 39,400 | * | 39,400 | – | * |
Brian Weitman (26) | 100,000 | * | 100,000 | – | * |
Broumand Family Trust ua dtd 6-8-10 (27) | 20,000 | * | 20,000 | – | * |
Carlo Alberici (28) | 39,400 | * | 39,400 | – | * |
Causeway Bay Capital LLC (29) | 68,000 | * | 68,000 | – | * |
Charles Christensen (30) | 39,400 | * | 39,400 | – | * |
Charles P. Arnold (31) | 31,520 | * | 31,520 | – | * |
Christopher Achar (32) | 68,000 | * | 68,000 | – | * |
Christopher D Jennings & Karen W Jennings JTWROS (33) | 17,000 | * | 17,000 | – | * |
Cor Clearing Cust FBO Debra E Bowers IRA (34) | 19,600 | * | 19,600 | – | * |
Craig Friou (35) | 19,600 | * | 19,600 | – | * |
Cynthia B. Padnos Separate Property Trust (36) | 17,000 | * | 17,000 | – | * |
Daniel Landry (37) | 137,776 | * | 34,000 | 103,776 | * |
Daniel P. Padnos 2011 Generation Trust FBO Jonathan Padnos (38) | 37,596 | * | 34,000 | 3,596 | * |
Daniel Padnos & Dexter Phillip JTTEN (39) | 20,000 | * | 20,000 | – | * |
Daniel Sanker (40) | 36,877 | * | 34,000 | 2,877 | * |
David A. Fitz (41) | 39,400 | * | 39,400 | – | * |
David B. O’Neill (42) | 19,600 | * | 19,600 | – | * |
David Petterson (43) | 59,160 | * | 59,160 | – | * |
Denis Berry (44) | 120,836 | * | 120,836 | – | * |
Denis D. Howarter & Pamela J. Howarter JTWROS (45) | 78,880 | * | 78,880 | – | * |
Dennis T. Whalen & Linda R. Whalen JTTEN (46) | 78,880 | * | 78,880 | – | * |
Dominador D. Tolentino Jr. (47) | 14,000 | * | 14,000 | – | * |
Donald Cameron (48) | 39,400 | * | 39,400 | – | * |
Donald Hulet (49) | 15,760 | * | 15,760 | – | * |
Donald P. Favre (50) | 23,668 | * | 23,668 | – | * |
Donald P. Sesterhenn (51) | 39,400 | * | 39,400 | – | * |
Donald T. McKiernan (52) | 28,000 | * | 28,000 | – | * |
Edmond Allen Morrison (53) | 27,600 | * | 27,600 | – | * |
Emilio DiMatteo (54) | 39,400 | * | 39,400 | – | * |
Eric A. Riso (55) | 39,400 | * | 39,400 | – | * |
FLMM Limited (56) | 240,000 | 1.7% | 240,000 | – | * |
Flores-Zaballos Family Trust (57) | 28,000 | * | 28,000 | – | * |
Francis Y. L. Chen and Peierh Penny Yang JTTEN (58) | 17,000 | * | 17,000 | – | * |
Frederick M. Kelso (59) | 31,540 | * | 31,540 | – | * |
Gary Sterbinsky (60) | 19,600 | * | 19,600 | – | * |
GFLT 1999 (61) | 68,000 | * | 68,000 | – | * |
Harold Wayne Smith Jr. (62) | 39,400 | * | 39,400 | – | * |
Highview Ventures LLC (63) | 84,000 | * | 84,000 | – | * |
James C. Leslie (64) | 19,600 | * | 19,600 | – | * |
James Eric Nicely & Karen B. Nicely JTWROS (65) | 19,600 | * | 19,600 | – | * |
James M. Koch (66) | 78,880 | * | 78,880 | – | * |
James M. Rucker (67) | 20,000 | * | 20,000 | – | * |
James P. Tierney (68) | 74,000 | * | 74,000 | – | * |
James R. Aldridge (69) | 39,400 | * | 39,400 | – | * |
James Somers (70) | 78,880 | * | 78,880 | – | * |
Jason Kim (71) | 68,000 | * | 68,000 | – | * |
Jason Robert Cavalier (72) | 100,000 | * | 100,000 | – | * |
Jay Wiviott (73) | 14,000 | * | 14,000 | – | * |
Jeffrey & Margaret Padnos 2010 Generation Trust FBO Benjamin Padnos (74) | 23,596 | * | 20,000 | 3,596 | * |
Jeffrey & Margaret Padnos 2010 Generation Trust FBO Joshua Padnos (75) | 23,596 | * | 20,000 | 3,596 | * |
Jeffrey & Margaret Padnos 2010 Generation Trust FBO Rebecca Padnos (76) | 23,596 | * | 20,000 | 3,596 | * |
Jeffrey & Margaret Padnos 2010 Generation Trust FBO Samuel Padnos (77) | 23,596 | * | 20,000 | 3,596 | * |
Jeffrey E. Kuhlin (78) | 19,600 | * | 19,600 | – | * |
Jeffrey L. Miller & Khirsten N. Zar JTTEN (79) | 19,600 | * | 19,600 | – | * |
Jeffrey Maroz (80) | 74,000 | * | 74,000 | – | * |
Jeffrey S. Padnos & Margaret M. Padnos JTWROS (81) | 54,383 | * | 40,000 | 14,383 | * |
Jeffrey Silver & Andrea Silver JTTTEN (82) | 17,000 | * | 17,000 | – | * |
John C. Klinge (83) | 19,600 | * | 19,600 | – | * |
John Charles David Lewis & Susan Elizabeth Kenny JTWROS (84) | 19,600 | * | 19,600 | – | * |
John F. McCarthy (85) | 19,600 | * | 19,600 | – | * |
John J. Hancock (86) | 19,600 | * | 19,600 | – | * |
John Richard Stamm (87) | 19,600 | * | 19,600 | – | * |
Jonathan E. Ansbacher (88) | 39,400 | * | 39,400 | – | * |
Jorge Morazzani (89) | 19,600 | * | 19,600 | – | * |
Jose M. Martinez (90) | 19,600 | * | 19,600 | – | * |
Joseph A. Muscat (91) | 27,600 | * | 27,600 | – | * |
Joseph C. Atkinson (92) | 19,600 | * | 19,600 | – | * |
Joseph M. Diangelo (93) | 19,600 | * | 19,600 | – | * |
Joseph Michalczyk (94) | 19,600 | * | 19,600 | – | * |
Joseph S. McLaughlan (95) | 39,400 | * | 39,400 | – | * |
Keith A. Belote (96) | 15,760 | * | 15,760 | – | * |
Keith Jackson (97) | 118,340 | * | 118,340 | – | * |
Keith O. Newton (98) | 19,600 | * | 19,600 | – | * |
Kepmen Capital (99) | 50,000 | * | 50,000 | – | * |
Kevin A. Healy (100) | 19,600 | * | 19,600 | – | * |
Kevin J. Herzberg (101) | 19,600 | * | 19,600 | – | * |
Kevin J. Schwartz (102) | 23,668 | * | 23,668 | – | * |
Kevin Leung (103) | 96,766 | * | 68,000 | 28,766 | * |
Kevin M. Borkowski (104) | 19,600 | * | 19,600 | – | * |
Kevin M. Mackenzie (105) | 39,400 | * | 39,400 | – | * |
Kim E. Tobler (106) | 19,600 | * | 19,600 | – | * |
Korbel Capital LLC (107) | 34,000 | * | 34,000 | – | * |
Kurtis S. Krentz (108) | 39,400 | * | 39,400 | – | * |
Lee Kay Kolligan (109) | 30,000 | * | 30,000 | – | * |
London Family Trust (110) | 68,000 | * | 68,000 | – | * |
Luther King Capital (111) | 118,200 | * | 118,200 | – | * |
Marathon Micro Fund LP (112) | 270,000 | 1.9% | 270,000 | – | * |
Mario R. Dell’Aera Jr. (113) | 118,340 | * | 118,340 | – | * |
Marios Karayannis (114) | 19,600 | * | 19,600 | – | * |
Mark A. Herndon & Sarah Herndon JTWROS (115) | 19,600 | * | 19,600 | – | * |
Mark Boyer (116) | 78,880 | * | 78,880 | – | * |
Mark R. Demich (117) | 39,400 | * | 39,400 | – | * |
Matthew Antoun (118) | 50,000 | * | 50,000 | – | * |
Matthew Hayden (119) | 140,787 | * | 130,000 | 10,787 | * |
Matthew W. Cambi (120) | 39,400 | * | 39,400 | – | * |
Maz Partners LP (121) | 39,400 | * | 39,400 | – | * |
Michael Burwell (122) | 78,880 | * | 78,880 | – | * |
Michael E. McLaughlin (123) | 19,600 | * | 19,600 | – | * |
Michael Ebedes (124) | 19,600 | * | 19,600 | – | * |
Michael Fahey (125) | 39,400 | * | 39,400 | – | * |
Michael J. Muldoon & Pamela J. Muldoon JTWROS (126) | 19,600 | * | 19,600 | – | * |
Michael Joseph Cavalier Jr. (127) | 68,000 | * | 68,000 | – | * |
Michael L. Desautels (128) | 19,600 | * | 19,600 | – | * |
Michael P. Quackenbush Jr. (129) | 39,400 | * | 39,400 | – | * |
Michael Sean Browning (130) | 20,000 | * | 20,000 | – | * |
Michael Snow (131) | 19,600 | * | 19,600 | – | * |
Miles E. Everson (132) | 19,600 | * | 19,600 | – | * |
Molly Richardson (133) | 253,200 | 1.8% | 253,200 | – | * |
National Securities Corporation (134) | 237,170 | 1.7% | 237,170 | – | * |
Nekimi Equity Growth Fund I LLC (135) | 60,000 | * | 60,000 | – | * |
NFS/FMTC Rollover IRA FBO Anthony C Scibelli (136) | 17,000 | * | 17,000 | – | * |
NFS/FMTC FBO Robert C Clifford Rollover IRA (137) | 97,668 | * | 40,000 | 57,668 | * |
NFS/FMTC Rollover IRA FBO Keith V Archer (138) | 28,000 | * | 28,000 | – | * |
NFS/FMTC Rollover IRA FBO James P Miller (139) | 19,600 | * | 19,600 | – | * |
NFS/FMTC Roth IRA FBO David S Nagelberg (140) | 96,000 | * | 96,000 | – | * |
NFS/FMTC Sep IRA FBO Ankur Desai (141) | 90,683 | * | 34,000 | 56,683 | * |
NFS/FMTC Sep IRA FBO Erick Richardson (142) | 176,800 | 1.3% | 176,800 | – | * |
Nudge Capital Fund LP (143) | 78,800 | * | 78,800 | – | * |
Omid Yasheral (144) | 34,000 | * | 34,000 | – | * |
Paul E. Linthorst (145) | 19,600 | * | 19,600 | – | * |
Paul P. Frank III & Colleen B. Frank Ten Ent (146) | 19,600 | * | 19,600 | – | * |
Paul Ramos (147) | 19,600 | * | 19,600 | – | * |
Per Magnus Andersson (148) | 28,000 | * | 28,000 | – | * |
Peter A. Casey (149) | 23,660 | * | 23,660 | – | * |
Peter C. Gerlach (150) | 24,000 | * | 24,000 | – | * |
Phillip Mervis & Sheryl Facktor (151) | 15,600 | * | 15,600 | – | * |
Pickett Henneberger Family Trust dtd 4-24-2013 (152) | 34,000 | * | 34,000 | – | * |
Purcell Trust ua dtd 9-19-2007 (153) | 14,000 | * | 14,000 | – | * |
R&A Chade Family Trust Richard Chade Trustee (154) | 34,000 | * | 34,000 | – | * |
Rajib A. Thadani (155) | 19,600 | * | 19,600 | – | * |
Raymond Todd Barrett (156) | 19,600 | * | 19,600 | – | * |
Rich Shappard (157) | 19,600 | * | 19,600 | – | * |
Richard & Esther Blanchard 1990 Trust (158) | 39,400 | * | 39,400 | – | * |
Richard J. Poccia (159) | 25,200 | * | 25,200 | – | * |
Richard Jeanneret (160) | 39,400 | * | 39,400 | – | * |
Robert W. Kastenschmidt (161) | 19,600 | * | 19,600 | – | * |
Ronald J. Ciasulli (162) | 39,400 | * | 39,400 | – | * |
RP Capital (163) | 170,000 | 1.2% | 170,000 | – | * |
Russell D. Moore (164) | 39,400 | * | 39,400 | – | * |
Ryan Hong (165) | 17,000 | * | 17,000 | – | * |
Salvatore A. Melilli (166) | 15,760 | * | 15,760 | – | * |
Samir A. Mammadov (167) | 39,400 | * | 39,400 | – | * |
Sanford D. Greenberg (168) | 20,000 | * | 20,000 | – | * |
Scott H. Shadrick Trust & Thomas B. Livermore Trust JTWROS (169) | 20,000 | * | 20,000 | – | * |
Scott J. Gehsmann (170) | 19,600 | * | 19,600 | – | * |
Shane Broumand (171) | 68,000 | * | 68,000 | – | * |
Shawn R. McAllister & Amanda McAllister JTTEN (172) | 28,000 | * | 28,000 | – | * |
Sivan Padnos Caspi & Tal A. Caspi JTWROS (173) | 35,438 | * | 34,000 | 1,438 | * |
Stephen V. Zawoyski (174) | 19,600 | * | 19,600 | – | * |
Stephen Walker Family Trust (175) | 34,000 | * | 34,000 | – | * |
Steven Chapin & Kristin Chapin Family Trust (176) | 200,000 | 1.4% | 200,000 | – | * |
Tanvir Ali Master (177) | 19,600 | * | 19,600 | – | * |
Targeted Investments 2028 LLC (178) | 19,600 | * | 19,600 | – | * |
The Alfie Trust D/O/E 5/10/12 (179) | 17,000 | * | 17,000 | – | * |
The Blair Family Trust u/a dtd 3-21-2011 (180) | 20,000 | * | 20,000 | – | * |
The Fein Family Trust (181) | 17,000 | * | 17,000 | – | * |
The Handler Revocable Trust (182) | 17,000 | * | 17,000 | – | * |
Todd G. Bari (183) | 19,600 | * | 19,600 | – | * |
Todd J. Anderson (184) | 19,600 | * | 19,600 | – | * |
Ungkeun A. Lee (185) | 19,600 | * | 19,600 | – | * |
Uwe Uhmeyer (186) | 43,442 | * | 15,600 | 27,842 | * |
Valley High Limited Partnership (187) | 284,000 | 2.0% | 284,000 | – | * |
Wendell Young (188) | 19,600 | * | 19,600 | – | * |
William A. Clifford (189) | 17,000 | * | 17,000 | – | * |
William E. Marx (190) | 19,600 | * | 19,600 | – | * |
YKA Partners LLC (191) | 34,000 | * | 34,000 | – | * |
Yogesh Gupta (192) | 19,600 | * | 19,600 | – | * |
Zhuge Liang LLC (193) | 20,000 | * | 20,000 | – | * |
12,095,682 | |||||
* Represents beneficial ownership of less than one percent. |
| SEC Registration Fee | | | | $ | 5,510 | | |
| Printing Expenses | | | | | * | | |
| Legal Fees and Expenses | | | | | * | | |
| Accounting Fees and Expenses | | | | | * | | |
| Transfer Agent and Registrar Fees and Expenses | | | | | * | | |
| Trustee Fees and Expenses | | | | | * | | |
| Stock Exchange and Other Listing Fees | | | | | * | | |
| Miscellaneous | | | | | * | | |
| Total | | | | $ | * | | |
SEC registration fee | $ | 4,486 | ||
Accounting fees and expenses | 5,000 | |||
Legal fees and expenses | 10,000 | |||
Transfer Agent fees and expenses | 500 | |||
Miscellaneous | 500 | |||
Total | $ | 20,486 |
Name: R. Daniel Brdar Title: President and Chief Executive Officer | ||
| |||||||
Signature | | | Title | | | Date | |
| |||||||
| /s/ R. Daniel Brdar R. Daniel Brdar | | | President, Chief Executive Officer | |||
(Principal Executive Officer) | | | December 29, 2022 | | |||
| |||||||
/s/ Timothy W. Burns Timothy W. Burns | | | Chief Financial Officer, Secretary and Treasurer | ||||
(Principal Financial and Accounting Officer) | | | December 29, 2022 | | |||
| |||||||
/s/ Michael C. Turmelle | | ||||||
| December 29, 2022 | | |||||
/s/ Drue Freeman | | | Director | | December 29, 2022 | | |
/s/ Gregory Knight | | | Director | | December 29, 2022 | | |
/s/ Ted Lesster Ted Lesster | | | |||||
Director | | | December 29, 2022 | |
Exhibit Number | Incorporated by Reference | Filed Herewith | ||||||||||
Exhibit Description | Form | File Number | Exhibit | Filing Date | ||||||||
3.1 | Delaware Certificate of Conversion including Certificate of Incorporation | S-1 | 333-190414 | 3.1 | August 6, 2013 | |||||||
3.2 | Bylaws of Ideal Power Inc. | S-1 | 333-190414 | 3.2 | August 6, 2013 | |||||||
3.3 | Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock | 8-K | 001-36216 | 3.1 | February 27, 2017 | |||||||
4.1 | Form of Warrant | 8-K | 001-36216 | 4.1 | February 27, 2017 | |||||||
5.1 | Opinion of DLA Piper LLP (US) | X | ||||||||||
10.1 | Purchase Agreement, dated February 24, 2017 among the Registrant and the Investors party thereto | 8-K | 001-36216 | 10.1 | February 27, 2017 | |||||||
10.2 | Form of Registration Rights Agreement between the Registrant and the Investors party thereto | 8-K | 001-36216 | 10.2 | February 27, 2017 | |||||||
10.3 | Exchange Agreement, dated February 24, 2017, by and among the Company and the common stockholders listed in Schedule 1 thereto | 8-K | 001-36216 | 10.3 | February 27, 2017 | |||||||
23.1 | Consent of Gumbiner Savett Inc., Independent Registered Public Accounting Firm | X | ||||||||||
23.2 | Consent of DLA Piper LLP (US) (included in Exhibit 5.1) | X | ||||||||||
24.1 | Power of Attorney (included on signature page) | X |