Recent Updates — IPW
iPower Inc.'s subsidiary, iPower AI LLC, received a customer-signed letter of intent for a five-year AI equipment services and management relationship. The proposed engagement targets an initial fleet of 48 units expanding to approximately 396 units in 2027, representing up to $21.90 million in annualized service fees at the end of the build-out. The LOI is non-binding and subject to a definitive agreement. iPower Inc. operates as a technology company focused on AI infrastructure investments and e-commerce.
iPower Inc. held a special meeting of stockholders on September 21, 2026, where shareholders approved three proposals to maintain Nasdaq listing compliance and support growth. Stockholders authorized the issuance of up to $10 million in common stock through private or public offerings at prices potentially below the Nasdaq Minimum Price. They also approved an amendment allowing the board discretion to implement a reverse stock split with a ratio of up to 1-for-250 when necessary for compliance. Additionally, shareholders adopted a Third Amended and Restated 2020 Equity Incentive Plan, increasing reserved shares to 50 million and adding a ten-year evergreen provision for annual increases. iPower Inc. operates in the e-commerce industry, specializing in indoor gardening equipment and supplies.
iPower Inc. consummated an additional optional closing under its Securities Purchase Agreement with an institutional investor on September 15, 2026. The company issued $3,000,000 in aggregate principal amount of Series A senior secured convertible notes and received approximately $2,820,000 in net proceeds before fees and expenses. These notes carry a fixed conversion price of $3.156 per share, representing 120% of the Nasdaq closing price on the closing date. Following this transaction, iPower has sold an aggregate total original principal amount of $15,184,024 in Series A Convertible Notes to the investor, with $9,084,580 converted to date and $15,000,000 remaining available for issuance. The company operates in the e-commerce industry, specializing in indoor gardening equipment and supplies.
iPower Inc. announced a one-for-nine reverse stock split of its common stock to maintain compliance with Nasdaq's minimum bid price requirement. The split became effective at the start of trading on August 7, 2026, reducing outstanding shares from approximately 7 million to roughly 781,068. Fractional shares are rounded up to the nearest whole share without cash payment. iPower Inc. operates as a technology- and data-driven supply chain provider for online retailers and is expanding into AI infrastructure investments.
iPower Inc. signed a non-binding letter of intent with a prospective customer for a proposed $6 million GPU computer system lease, which could expand to a total contract value of approximately $60 million over a 36-month term. The company is expanding its strategy to provide dedicated AI computing infrastructure via hardware leasing. iPower Inc. is a technology and data-driven company focused on the intersection of AI infrastructure and real-world commerce.
iPower Inc. formed two wholly-owned subsidiaries, IPW Commerce LLC and iPower AI LLC, to separate its e-commerce and artificial intelligence operations. The company is planning to pursue an AI hardware leasing business through the new AI subsidiary, targeting a model of acquiring and leasing AI computing hardware to customers. iPower Inc. operates in the technology and data-driven sector, focusing on AI infrastructure and real-world commerce.