Corporate ActionJul 10, 2026, 05:22 PM
iPower Registers 27.1M Shares for Resale from Convertible Notes
AI Summary
iPower Inc. filed an S-1 registration statement for the resale of up to 27,135,484 shares of common stock by a selling institutional investor. These shares are issuable upon conversion of $22,400,000 in Series A Senior Secured Convertible Notes. The company will not receive any proceeds from the selling stockholder's resale of these shares. This registration follows a 1-for-8 reverse stock split completed on May 22, 2026, and covers both already issued and remaining convertible notes.
Key Highlights
- iPower registers up to 27,135,484 common shares for resale.
- Shares are from $22,400,000 Series A Senior Secured Convertible Notes.
- Includes 13.2M shares from $4.4M Series A Convertible Notes at $0.40 floor.
- Registers 13.9M shares for $18M remaining Series A Convertible Notes.
- Remaining notes convertible at $1.55 alternate conversion price.
- Company will not receive proceeds from selling stockholder's resale.
- Company completed 1-for-8 reverse stock split on May 22, 2026.
Price Impact
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