---
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"
generated_at: "2026-05-16T12:17:19.999905+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.07, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-009331
- JSON: https://secwatch.observer/filing/0001683168-25-009331.json
- Plain text: https://secwatch.observer/filing/0001683168-25-009331.txt

## Key facts
- Debt Financings
  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.
  - Instrument: convertible notes
  - Principal: $30,000,000
  - Counterparty: a certain institutional investor
  - Rate: 10% per annum (increasing to 17% per annum upon the occurrence and during the co
  - Maturity: December 23, 2027
  - Event: incurrence
  source text: “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_url: https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm
- Equity Issuances
  iPower Inc. issued convertible note to a certain institutional investor.
  - Security: convertible note
  - Purchaser: a certain institutional investor
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm
- Material Agreements
  iPower Inc. entered into Securities Purchase Agreement with a certain institutional investor valued at $30,000,000 (effective 2025-12-22).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: a certain institutional investor
  - Value: $30,000,000
  - Effective: 2025-12-22
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1830072/000168316825009331/0001683168-25-009331-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.