iPower closes $3 million convertible note tranche, receives $2.82 million gross
On September 15, 2026, iPower completed an additional optional closing under its convertible note facility with an institutional investor, issuing $3,000,000 of Series A senior secured convertible notes for $2,820,000 before fees and expenses. The notes carry a fixed conversion price of $3.156, and the filing says $9,084,580 of Series A notes have already been converted to date, which adds potential dilution for shareholders.
Key points
- Issued $3,000,000 principal of Series A notes on September 15, 2026, at $940 per $1,000 of principal
- Received about $2,820,000 gross proceeds before fees; a 6% cash fee is payable to placement agent Digital Offering
- Fixed conversion price of $3.156, set at 120% of the Nasdaq closing price on September 15, 2026
- Total Series A notes sold to date: $15,184,024; $15,000,000 remains available; $9,084,580 converted to date
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.