iPower closes $5M registered direct offering of 2.08M shares and warrants; CEO returns shares to reduce dilution

iPower Inc.

Offering consists of 2,083,334 shares at $2.40 and immediately exercisable 5-year warrants at $2.40 share price; gross proceeds $5M.
Net proceeds ~$4.55M; intended for growth strategies, M&A, and general corporate purposes.
CEO Lawrence Tan and co-founder Allan Huang return 541,557 pledged shares for cancellation, reducing dilution from the offering.
Roth Capital Partners acted as placement agent; received 6.5% cash fee on gross proceeds.

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