iPower Inc. issues $2M in promissory notes at 6.5% to pay off JPMorgan credit facility

iPower Inc.

Three promissory notes issued for total gross proceeds of $2M on November 24, 2025.
Notes bear 6.5% annual interest; due 60 days or upon closing of new investment transaction.
Proceeds used to repay existing JPMorgan Chase credit agreement originally dated Nov 12, 2021.
One lender is an entity controlled by CEO Chenlong Tan, a related-party transaction.
Security interest granted in substantially all personal property (excluding crypto assets) after JPMorgan payoff.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

iPower Inc. entered into Promissory Notes with certain investors and related parties, including an entity controlled by the Company’s CEO, Chenlong Tan valued at $2 million (effective 2025-11-24).

Action: entry
Agreement: notes offering
Counterparty: certain investors and related parties, including an entity controlled by the Company’s CEO, Chenlong Tan
Value: $2 million
Effective: 2025-11-24

Exact text from the filing

On November 24, 2025, iPower Inc., a Nevada corporation (the “Company”), issued three promissory notes totaling $2 million (the “Promissory Notes”) in exchange for gross proceeds of $2 million.

View on SEC.gov

276 material agreements filed in the last 30 days. Browse all material agreements →

iPower Inc. filing history →

Source: SEC EDGAR

accession 0001683168-25-008743

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.