<SEC-DOCUMENT>0001415889-13-002428.txt : 20131122
<SEC-HEADER>0001415889-13-002428.hdr.sgml : 20131122
<ACCEPTANCE-DATETIME>20131122164338
ACCESSION NUMBER:		0001415889-13-002428
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20131121
FILED AS OF DATE:		20131122
DATE AS OF CHANGE:		20131122

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ideal Power Inc.
		CENTRAL INDEX KEY:			0001507957
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				141999058
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5004 BEE CREEK RD.
		STREET 2:		SUITE 600
		CITY:			SPICEWOOD
		STATE:			TX
		ZIP:			78669
		BUSINESS PHONE:		512-264-1542

	MAIL ADDRESS:	
		STREET 1:		5004 BEE CREEK RD.
		STREET 2:		SUITE 600
		CITY:			SPICEWOOD
		STATE:			TX
		ZIP:			78669

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ideal Power Converters, Inc.
		DATE OF NAME CHANGE:	20101215

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			APPEL PETER A
		CENTRAL INDEX KEY:			0001227104

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36216
		FILM NUMBER:		131238680

	MAIL ADDRESS:	
		STREET 1:		C/O ARCH CAPITAL HOLDINGS LTD
		STREET 2:		20 HORSENECK LANE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2013-11-21</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001507957</issuerCik>
        <issuerName>Ideal Power Inc.</issuerName>
        <issuerTradingSymbol>IPWR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001227104</rptOwnerCik>
            <rptOwnerName>APPEL PETER A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>77 OREGON ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BEDFORD CORNERS</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Senior Secured Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>29124</value>
                    <footnoteId id="F12"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Senior Secured Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>472196</value>
                    <footnoteId id="F12"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Senior Secured Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>79361</value>
                    <footnoteId id="F12"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F9"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>28767</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F9"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>233728</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F10"/>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F8"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>39554</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The senior secured convertible promissory note (the &quot;Note&quot;) must be converted in conjunction with the Company's initial public offering. The Note may be converted prior to the Company's initial public offering on a change of control or at the election of the holder.</footnote>
        <footnote id="F2">The Note must be paid in full at the earlier of (i) January 6, 2014, (ii) the occurrence of an Event of Default as defined in the Note or (iii) the closing of an initial public offering raising at least $10 million in gross proceeds (&quot;IPO&quot;).</footnote>
        <footnote id="F3">The Note must be paid in full at the earlier of (i) July 29, 2014, (ii) the occurrence of an Event of Default as defined in the Note or (iii) the closing of an initial public offering raising at least $10 million in gross proceeds (&quot;IPO&quot;).</footnote>
        <footnote id="F4">If the Note is converted in conjunction with an IPO, the conversion price will be equal to the lower of 0.70 times the IPO price or $3.48. If the holder elects to convert the Note prior to the IPO or the maturity date, the conversion price will be equal to the lower of 0.70 times the price per share paid by investors in the most recent Private Equity Financing (as defined in the Note) to occur prior to the Calendar Due Date or $3.48.</footnote>
        <footnote id="F5">The warrant may be exercised prior to January 6, 2014 in conjunction with an IPO or a Private Equity Financing.  Otherwise, the warrant may not be exercised prior to January 6, 2014.</footnote>
        <footnote id="F6">The warrant may be exercised prior to July 29, 2014 in conjunction with an IPO or a Private Equity Financing.  Otherwise, the warrant may not be exercised prior to July 29, 2014.</footnote>
        <footnote id="F7">The warrant will expire on November 21, 2019 provided, however, if the Company completes an IPO after November 21, 2017 but prior to November 21, 2019, then the expiration date will be extended for an additional five years following the completion of the IPO.</footnote>
        <footnote id="F8">The warrant will expire on July 29, 2020 provided, however, if the Company completes an IPO after July 29, 2018 but prior to July 29, 2020, then the expiration date will be extended for an additional five years following the completion of the IPO.</footnote>
        <footnote id="F9">In the event an IPO is completed prior to January 6, 2014, the per-share exercise price will be equal to the lower of 0.70 times the IPO Price or $3.48.  In the event of a Private Equity Financing that occurs prior to January 6, 2014, the per-share exercise price will equal the lower of 0.70 times the Private Equity Financing price or $3.48; provided, however, that (A) if the Company undertakes first, a Private Equity Financing and secondly, an IPO prior to January 6, 2014 and (B) the Private Equity Financing price is higher than the IPO price, then the per share exercise price will be adjusted to equal the exercise price calculated based on the IPO price.  If the Company does not undertake a Private Equity Financing or an IPO prior to January 6, 2014, then the exercise price will be $3.48 per share.</footnote>
        <footnote id="F10">In the event an IPO is completed prior to July 29, 2014, the per-share exercise price will be equal to the lower of 0.70 times the IPO Price or $3.48.  In the event of a Private Equity Financing that occurs prior to July 29, 2014, the per-share exercise price will equal the lower of 0.70 times the Private Equity Financing price or $3.48; provided, however, that (A) if the Company undertakes first, a Private Equity Financing and secondly, an IPO prior to July 29, 2014 and (B) the Private Equity Financing price is higher than the IPO price, then the per share exercise price will be adjusted to equal the exercise price calculated based on the IPO price.  If the Company does not undertake a Private Equity Financing or an IPO prior to July 29, 2014, then the exercise price will be $3.48 per share.</footnote>
        <footnote id="F11">Reflects the reverse stock split effected on November 21, 2013.</footnote>
        <footnote id="F12">Reflects interest accrued as of November 21, 2013.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Peter Appel</signatureName>
        <signatureDate>2013-11-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
