iPower Inc. Approves Reverse Split, $10M Stock Offering & Equity Plan

What Happened

• iPower Inc. (IPW) filed an 8-K disclosing results of a special meeting of stockholders held on September 21, 2026. Stockholders approved three proposals: (1) authorization to issue up to $10,000,000 of common stock (for Nasdaq Rule 5635(d) purposes), (2) an amendment authorizing the board to effect a reverse stock split of up to 1-for-250, and (3) a Third Amended and Restated 2020 Equity Incentive Plan increasing the reserve to 50,000,000 shares with a 5% annual evergreen for ten years.

Key Details

• Meeting date and turnout: September 21, 2026; 6,427,376 votes eligible, 2,322,467 shares voted (36.13% turnout).
• Stock offering approval vote: For 2,272,998; Against 49,465; Abstain 4.
• Reverse split approval vote (board may choose ratio up to 1-for-250): For 2,271,824; Against 50,639; Abstain 4.
• Equity incentive plan approval vote (reserve set to 50,000,000; 5% annual increase for 10 years): For 2,283,378; Against 39,085; Abstain 4.

Why It Matters

• The approvals give iPower’s board flexibility to raise capital (up to $10M in common stock) and to adjust the share structure (reverse split authority up to 1-for-250) to help maintain compliance with Nasdaq listing standards.
• The expanded equity plan and evergreen provision increase the pool of shares available for employee and director awards, supporting compensation, retention and recruitment strategies.
• Investors should note the formal board authority to act (not an immediate change): any actual share issuances or reverse split would be implemented by the board at its discretion and would be disclosed in future filings.