iPower Inc. Form 8-K Filing

On December 22, 2025, iPower Inc. entered into a Securities Purchase Agreement with an institutional investor for a $30,000,000 convertible note facility. This includes an initial purchase of $5,184,024 in Series A convertible notes and $1,815,976 in Series B convertible notes, along with shares of common stock. The company received gross proceeds of $6,580,000 before expenses. Digital Offering LLC acted as the placement agent, receiving $394,800 in fees. The agreement includes customary representations, warranties, and covenants. The convertible notes mature on December 23, 2027, with a 10% annual interest rate, increasing to 17% upon an Event of Default. They are convertible into common stock at a fixed price of $17.70 per share, with provisions for an Alternate Conversion Price. The notes are senior secured obligations, collateralized by the company's cryptocurrency assets. On December 23, 2025, iPower Inc. also entered into a Guaranty and a Registration Rights Agreement concerning the Series A convertible notes. Stockholders approved the convertible note facility and other related matters on December 21, 2025.