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$3,000,000 in aggregate principal amount of new Series A senior secured convertible notes settled on iPower Inc.'s (Nasdaq: IPW) books on September 15, 2026, as the Rancho Cucamonga, California company executed an Additional Optional Closing under its December 2025 Securities Purchase Agreement.
The institutional investor paid $940 per $1,000 of face value. Gross proceeds to iPower came to $2,820,000, before fees, among them a 6% cash placement fee to Digital Offering, which served as placement agent.
The note carries a fixed conversion price of $3.156 per share, set at 120% of IPW's Nasdaq closing price on the draw date. The Series A Notes were issued under a Regulation D exemption from registration.
Facility draw-down to date iPower's convertible note facility was established December 22, 2025, originally structured as an up-to-$30,000,000 6% original issue discount senior secured convertible note arrangement.
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