<SEC-DOCUMENT>0001415889-13-002495.txt : 20131202
<SEC-HEADER>0001415889-13-002495.hdr.sgml : 20131202
<ACCEPTANCE-DATETIME>20131202204016
ACCESSION NUMBER:		0001415889-13-002495
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20131127
FILED AS OF DATE:		20131202
DATE AS OF CHANGE:		20131202

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:			BELL LON E
		CENTRAL INDEX KEY:			0000941593

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36216
		FILM NUMBER:		131252987

	MAIL ADDRESS:	
		STREET 1:		C/O AMERIGON INC
		STREET 2:		5462 IRWINDALE AVENUE
		CITY:			IRWINDALE
		STATE:			CA
		ZIP:			91706
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-12022013_051236.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2013-11-27</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000941593</rptOwnerCik>
            <rptOwnerName>BELL LON E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5004 BEE CREEK ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>SPICEWOOD</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78669</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2013-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>58192</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.48</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>66525</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2013-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86525</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2013-11-27</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>29129</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>72213</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-11-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2013-11-27</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>29063</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>43150</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The shares of common stock were acquired upon the conversion of senior secured convertible promissory notes, each in the principal amount of $100,000, issued on August 31, 2012 and November 21, 2012 to the Bell Family Trust dated February 2, 1995.</footnote>
        <footnote id="F2">The securities are owned by the Bell Family Trust dated February 2, 1995. The reporting person is the trustee and a beneficiary of the Bell Family Trust and has voting and investment control over the Securities.</footnote>
        <footnote id="F3">The senior secured convertible promissory notes were required to be converted into shares of the Company's common stock if, prior to the maturity date (January 6, 2014), the Company raised at least $10 million in an initial public offering of its common stock.  The Company completed its initial public offering on November 27, 2013 and raised gross proceeds in excess of $10 million.  Upon the completion of the Company's initial public offering the senior secured convertible promissory notes, including all accrued interest, were paid with shares of the Company's common stock at the price of $3.48 per share.</footnote>
        <footnote id="F4">The reporting person continues to hold two warrants, one warrant for the purchase of 28,767 shares of the Company's common stock and a second warrant for the purchase of 14,383 shares of the Company's common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lon E. Bell</signatureName>
        <signatureDate>2013-12-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
