iPower Inc. has completed an additional closing of a senior secured convertible note facility, issuing $3,000,000 in aggregate principal amount of Series A notes. The transaction occurred on September 15, 2026, pursuant to a Securities Purchase Agreement originally dated December 22, 2025.
The Series A notes were issued to an institutional investor with a fixed conversion price of $3.156, which represents 120% of the Nasdaq closing price of iPower’s common stock on September 15, 2026. The notes were sold under an exemption from registration under Regulation D of the Securities Act of 1933.
At this closing, the Company received gross proceeds of approximately $2,820,000. The consideration was calculated at $940 for each $1,000 of principal amount, before fees and expenses. A 6% cash fee was paid to Digital Offering, who acted as the placement agent for the transaction.
Following this closing, the Company has sold a total original principal amount of $15,184,024 in Series A Convertible Notes to the Investor. The facility originally provided for up to $30,000,000, and $15,000,000 of aggregate original principal amount remains available for future issuance. As of the date of the filing, $9,084,580 of the Series A Convertible Notes have been converted to date.
