iPower (IPW) Registration filing summary

Company overview and business model

• Operates as a technology- and data-driven infrastructure company focused on supply chain services, commerce infrastructure, and logistics partnerships.

• Strategic focus has shifted toward AI infrastructure acquisition, financing, and equipment leasing, while maintaining a limited digital asset treasury.

• Recently divested a subsidiary and restructured supply and distribution agreements to streamline operations and focus on core competencies.

Financial performance and metrics

• As of August 15, 2026, held $5.77 million in digital assets and controlled-account cash, including Bitcoin and cash.

• Sold $12.18 million in Series A Convertible Notes to date, with $18 million remaining available for issuance.

• Investor has converted $9.08 million of Series A Convertible Notes, resulting in 678,743 shares at an average conversion price of $13.38 per share (post-reverse splits).

Use of proceeds and capital allocation

• Proceeds from additional closings may be used for general corporate purposes, including working capital, debt repayment, and AI infrastructure investments.

• Digital asset treasury strategy is flexible, with asset allocation determined by management based on liquidity, collateral, and market conditions.

• Substantially all digital assets and cash in controlled accounts are pledged as collateral for convertible notes.