{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-25-009331","form_type":"8-K/A","ticker":"IPW","cik":"0001830072","company_name":"iPower Inc.","filed_at":"2025-12-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.677260+00:00","generated_at":"2026-05-16T12:17:19.999905+00:00","sec_items":["1.01","2.03","3.02","5.07","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"iPower enters $30M convertible note facility to fund Digital Asset Treasury with Bitcoin and Ethereum","bullets":["$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."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-25-009331","json":"https://secwatch.observer/filing/0001683168-25-009331.json","markdown":"https://secwatch.observer/filing/0001683168-25-009331.md","text":"https://secwatch.observer/filing/0001683168-25-009331.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/ipower_8ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:17:19.999905+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e69e274be4598c8f4e4f81c6aae6fb544312a5b3","claim":"iPower Inc. incurred convertible notes of $30,000,000 with a certain institutional investor at 10% per annum (increasing to 17% per annum upon the occurrence and during the co maturing December 23, 2027.","evidence_excerpt":"“Purchase Agreement”) providing for the purchase by the Investor of a 6% original issue discount (OID) convertible note facility in the aggregate original principal amount of $30,000,000 (the “Convertible Note Facility”), in which the Investor will initially purchase (i) a series A senior secured convertible note in the aggregate original principal amount","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm","confidence":1.0,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$30,000,000"},{"label":"Counterparty","value":"a certain institutional investor"},{"label":"Rate","value":"10% per annum (increasing to 17% per annum upon the occurrence and during the co"},{"label":"Maturity","value":"December 23, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"d27b153972e93699815f8c0e9a0d007177b24812","claim":"iPower Inc. issued convertible note to a certain institutional investor.","evidence_excerpt":"the purchase by the Investor of a 6% original issue discount (OID) convertible note facility in the aggregate original principal amount of $30,000,000 (the “Convertible Note Facility”), in which the Investor will initially purchase (i) a series A senior secured convertible note in the aggregate original principal amount of $5,184,024 (the “Series A Convertible Note”), and shares of common stock, par value, $0.001 per share (the “Common Stock”), issuable pursuant to the terms of the Series A Convertible Notes (the “Series A Conversion Shares”) in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506(b) of Regulation D","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"convertible note"},{"label":"Purchaser","value":"a certain institutional investor"}],"fact_type":"equity_issuance"},{"claim_id":"fdb258386713e87f9b39601362671ec32e79132f","claim":"iPower Inc. entered into Securities Purchase Agreement with a certain institutional investor valued at $30,000,000 (effective 2025-12-22).","evidence_excerpt":"On December 22, 2025, iPower Inc., a Nevada Company (the “Company”) entered into a Securities Purchase Agreement with a certain institutional investor (the “Investor”) named therein (the “Purchase Agreement”) providing for the purchase by the Investor of a 6% original issue discount (OID) convertible note facility in the aggregate original principal amount of $30,000,000","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"a certain institutional investor"},{"label":"Value","value":"$30,000,000"},{"label":"Effective","value":"2025-12-22"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}