iPower Inc. 8-K

What Happened

• iPower Inc. filed an 8-K reporting that its board approved a 1-for-8 reverse stock split of its common stock. Stockholders previously authorized reverse splits up to 1-for-250 (reported on a Schedule DEF14C filed Jan 21, 2026). The board approved the 1:8 split on May 4, 2026; a certificate of amendment was filed with the Nevada Secretary of State on May 20, 2026 and became effective May 22, 2026. The reverse split takes effect at the start of trading on May 22, 2026 and trading on the Nasdaq Capital Market will continue on a split-adjusted basis.

Key Details

• Reverse split ratio: 1-for-8; effective time: start of trading on May 22, 2026.
• Board authorization follows stockholder approval to permit reverse splits up to 1-for-250 (Schedule DEF14C filed Jan 21, 2026; became effective Feb 10, 2026).
• Options, warrants and restricted stock units will be adjusted proportionately (fewer underlying shares, higher exercise prices as applicable). The company’s total authorized common and preferred shares are unchanged.
• No fractional shares will be issued; holders otherwise entitled to a fractional share will receive one full post-split share. VStock Transfer LLC is the exchange agent. New CUSIP: 46265P305. Press release issued May 19, 2026 (Exhibit 99.1).

Why It Matters

• The reverse split reduces the number of outstanding shares and adjusts derivative securities, which changes per‑share metrics (e.g., shares outstanding, earnings per share) without altering the company’s overall market value.
• Investors holding shares through brokers do not need to take action; the split is mechanical and records/holdings will be updated by transfer agent/brokers.
• Because the company did not change authorized shares, the action is a consolidation of issued shares only—investors should note the adjusted share count, option/warrant terms, and new CUSIP for trading and recordkeeping.