{"url_path":"/sec/ipw/8-k/2026-05-19/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 **","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-19","source_url":"https://www.sec.gov/Archives/edgar/data/1830072/0001683168-26-004092-index.html","accession_number":"0001683168-26-004092","cik":"0001830072","ticker":"IPW","issuer_name":"iPower Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1830072/0001683168-26-004092-index.html","primary_entity_key":"0001830072","primary_entity_name":"iPower Inc."},"word_count":455,"has_tables":true,"body_markdown":"**Item 1.01.**\n**Entry into a Material Definitive Agreement.**\n\n \n\n*Additional Optional Closing under Securities\nPurchase Agreement*\n\n \n\nAs previously disclosed in our Current Report\non Form 8-K filed on December 23, 2025 (the “Prior Form 8-K”), iPower Inc., a Nevada corporation (the “Company”),\nentered into a Securities Purchase Agreement dated December 22, 2025 (the “Purchase Agreement”) with an institutional investor\n(the “Investor”) providing for an up to $30,000,000 6% original issue discount senior secured convertible note facility, with\nan initial closing of $5,184,024 principal amount of series A senior secured convertible notes (the “Series A Notes”), sold\nin reliance on an exemption from registration statement afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities\nAct”), and Rule 506(b) of Regulation D of the Securities Act; and $1,815,976 principal amount of series B senior secured convertible\nnotes, and an additional $2,000,000 of Series A Notes issuable upon the effectiveness of a resale registration statement on Form S-1 registering\nthe Series A Notes (the “Resale Registration Statement”). The Purchase Agreement further provided for additional purchases\nof Series A Notes at the Investor’s discretion (each, an “Additional Optional Closing”).\n\n \n\nFollowing the Investor’s notification to\nthe Company of its intent to execute an Additional Optional Closing for $3,000,000 in aggregate principal amount of Series A Notes, on\nMay 19, 2026, the Company and Investor consummated an Additional Optional Closing. At the Additional Optional Closing, the Company received\n$2,820,000, excluding fees and expenses, in exchange for issuing a $3,000,000 aggregate principal amount of Series A Notes to the Investor\nafter satisfaction of all applicable closing conditions, including the effectiveness of the resale registration statement and the absence\nof any Event of Default (as such term is defined in the Form of Series A Senior Secured Convertible Note, filed herewith as Exhibit 10.1).\nThe Series A Note issued at the Additional Optional Closing was issued pursuant to an exemption from registration in accordance with Regulation\nD of the Securities Act and has a fixed conversion price of $1.03 (120% of the Nasdaq closing price of IPW common stock on May 18, 2026).\n\n \n\nPursuant to the Purchase Agreement, the consideration\nwas paid at $940 for each $1,000 of principal amount, and the Company received gross proceeds of approximately $2,820,000 at this closing,\nbefore fees and expenses, including a 6% cash fee payable to Digital Offering, who acted as placement agent in the transaction. Following\nboard approval, the Company has committed up to $3.0 million of the Company’s investment funds for the purchase of sUSDai, a yield-bearing\ndigital asset instrument.\n\n \n\nConsistent with the Purchase Agreement’s\ndisclosure covenants, the Company is providing this Current Report on Form 8-K to disclose the completion of this Additional Optional\nClosing under the Purchase Agreement."}