iPower enters $30M convertible note facility to fund Digital Asset Treasury with Bitcoin and Ethereum

iPower Inc.

$30M convertible note facility with 6% OID; initial $9M committed, $6.58M gross proceeds received.
~$4.4M of proceeds to establish Digital Asset Treasury holding Bitcoin and Ethereum; balance for debt repayment and working capital.
Convertible notes bear 10% interest (17% on default), mature Dec 2027, conversion price $17.70 with alternate conversion discount.
Shareholders approved authorized share increase from 200M to 1B and reverse stock split authorization up to 1-for-250.
Notes are senior secured by cryptocurrency assets; subsidiary guarantors.

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