iPower Taps Convertible Facility for Another $3M at $3.156 Conversion Price
IPW sits 33% above its 52-week low of $1.53 on elevated volume (43× avg).
Summary
An additional $3 million was drawn from the convertible note facility, yielding $2.82 million in gross proceeds at a $3.156 conversion price—a premium to the current share price, but with the same dilutive terms and fees as prior draws.
Key Events · Financing and Capital Events · IPW
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$3M Additional Drawdown Completed
On September 15, 2026, a $3,000,000 principal amount Series A Note was issued at an Additional Optional Closing, generating $2,820,000 in gross proceeds before fees.
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Conversion Price Set at $3.156
The new note carries a fixed conversion price of $3.156, equal to 120% of the Nasdaq closing price on September 15, 2026—a premium to the current $2.039 share price.
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Fees and Discount Reduce Net Proceeds
A 6% original issue discount ($180,000) and a 6% cash placement fee to Digital Offering reduce net proceeds below the $2.82 million gross figure.
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Cumulative Facility Usage Reaches $15.2M
Total Series A Notes sold to date now stand at $15,184,024, with $15,000,000 remaining available for issuance and $9,084,580 already converted.
Analysis · IPW · Trade & Services
Another $3 million drawdown under the senior secured convertible note facility has been executed, bringing in $2.82 million in gross proceeds. The fixed conversion price of $3.156 represents a 120% premium to the September 15 Nasdaq close, meaning the investor is paying above the current $2.039 share price for conversion rights. However, the note still carries a 6% original issue discount, a 6% placement fee, and the facility's anti-dilution provisions—including a $0.388 floor price and potential price resets—remain in force. Against the backdrop of severe financial distress and pending shareholder votes on highly dilutive proposals, this drawdown extends the runway but deepens the overhang.
How filings like this one have moved
In the 30 days to Sep 15, 2026, 29.9% of the 1678 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IPW was trading at $2.04 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $1.53 to $2,494.80. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.