iPower forms AI subsidiary iPower AI LLC to pursue AI hardware leasing; also joins guaranty on existing note facility

iPower Inc.

Formed two wholly-owned subsidiaries: IPW Commerce LLC and iPower AI LLC, to separate e-commerce and AI operations.
iPower AI LLC will focus on acquiring AI computing hardware and leasing it to customers; preliminary non-binding interest from prospects.
Potential lease structures may include substantial upfront payments; no definitive customer agreements signed yet.
iPower AI LLC joined as guarantor under the existing $30M 6% OID senior secured convertible note facility via a Joinder to Guaranty.
No change to management or capital structure from the subsidiary formations.

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