DealsJul 2, 2026, 04:38 PM
iPower Transfers $2M Inventory to GPM; Ends Exclusivity
AI Summary
iPower Inc. entered into a supplement to its supply and distribution agreement with Global Product Marketing, Inc. (GPM) and ETTS AI Investment LLC. Under the supplement, GPM assumed $2,007,366.86 of iPower's accounts payable to suppliers in exchange for acquiring an equal amount of iPower's existing inventory. Additionally, the agreement releases both iPower and GPM from their previous exclusive sourcing and distribution obligations to one another.
Key Highlights
- GPM assumed $2,007,366.86 of iPower's accounts payable to suppliers.
- GPM acquired $2,007,366.86 of iPower's existing inventory.
- iPower and GPM are released from exclusive sourcing obligations.
- iPower and GPM are released from exclusive distribution obligations.
- The Supplement to the agreement was entered into on June 30, 2026.
Price Impact
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