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Stock impact report

iPower Enters into Strategic $30 Million Financing Facility to Strengthen Balance Sheet and Launch Digital Asset Treasury

iPower Inc. (IPW) 
Company Research Source: Business Wire
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--iPower Inc. (Nasdaq: IPW) today announced that it has entered into a $30 million convertible note financing facility to launch its Digital Asset Treasury (“DAT”) strategy as part of a broader crypto strategy designed to position the Company at the intersection of digital assets and real-world commerce, supported by a $30 million convertible note facility from a US-based institutional investor (the “Facility”).Of the initial $9 million in committed funding, approximately $4.4 million of proceeds will be used to establish a Digital Asset Treasury, which is expected to hold a combination of Bitcoin and Ethereum. Proceeds will also be used to repay the Company’s existing short-term bridge loan and add cash to the balance sheet for working capital, among other uses. For subsequent tranches, approximately 80% of proceeds are intended to be used to acquire digital assets.This transaction represents iPower’s first concrete step in executing its b Show less Read more
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