IPW · iPower Inc.

iPower Inc. has executed a strategic sublease agreement that transforms underutilized warehouse space into a significant recurring revenue stream. The 25-month sublease to Dezheng Logistics Inc. for approximately 85,000 square feet in Rancho Cucamonga, California, will generate base rental income starting at $62,500 per month, increasing to over $106,000 within the first three months and reaching approximately $112,700 monthly by the lease's final stage. This represents over $2.6 million in contracted, non-dilutive income through May 2028, providing enhanced cash flow visibility and reducing fixed cost burdens. The transaction required consent from the master landlord, 9th & Vineyard LP, which was obtained through a second amendment to the master lease, with Dezheng covering additional security requirements. CEO Lawrence Tan emphasized this move aligns with the company's shift toward an asset-light operating model, improving capital efficiency without incremental investment. Concurrently, at the 2026 annual meeting, stockholders demonstrated strong support for management by electing all five director nominees and approving executive compensation, while ratifying HTL International LLP as independent auditors for fiscal year 2026. The sublease agreement's financial terms and shareholder vote outcomes collectively signal operational optimization and governance stability.