8-K - iPower Inc. | StockGist

AI Analysis

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iPower Inc. amended its $2.3 million promissory note from ETTS AI, expanding the 'Change of Control' definition to include management changes, business model shifts, and supply chain dispositions that could void the note.

Key Takeaways

1On March 26, 2026, iPower and ETTS AI amended the February 1, 2026 Promissory Note via Exhibit 10.1.

2Amendment restates Section 8, broadening 'Change of Control' to trigger note voidance.

3New triggers include >50% voting power acquisition, material executive/board changes, business model alterations adversely affecting GPM supply relationship.

4Also covers disposition of material supply chain portions impacting ordinary business operations.

5All other Promissory Note terms remain unchanged and in full force.

6Executed by Stanley Wu (ETTS AI Member) and Chenlong Tan (iPower CEO).

Current Report Details

Event Type

Material Agreement

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. | Entry into a Material Definitive Agreement. | |---|---| As previously disclosed, on February 1, 2026, iPower Inc, a Nevada corporation (“iPower” or the “Com

Material Agreement

$2.3METTS AI Investment LLC

Source Document

9.01

. | Financial Statement and Exhibits. | |---|---| (d) Exhibits. | Exhibit No. | | Description | |---|---|---| | 10.1 | | Addendum to Promissory Note, by and bet

Exhibits Only

Transaction Details

Material Agreement

Parties: iPower Inc. (Holder), ETTS AI Investment LLC (Borrower)

•Amends and restates Section 8 (Change of Control) of $2.3 million Promissory Note dated February 1, 2026
•Change of Control expanded to include: (a) >50% voting power acquisition or sale of substantially all assets; (b) material change in executive management or board composition; (c) material change in business model/core operations/strategic direction adversely affecting obligations to GPM; (d) disposition of material supply chain impacting ordinary course supply
•Upon Change of Control, Note becomes void with no further payments due
•All other terms unchanged

Exhibits (2)

10.1

ADDENDUM TO PROMISSORY NOTE

8-K

CURRENT REPORT