UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.02. | Termination of a Material Definitive Agreement. |
On December 7, 2025, iPower Inc., a Nevada corporation (the “Company”) repaid in full its asset-based lending facility (“ABL”), originally dated November 12, 2021, as amended, with JPMorgan Chase Bank, N.A. (“JPM”), resulting in the termination of the ABL. As a result, the Company has initiated the termination of the related Uniform Commercial Code filings.
To facilitate the payoff and provide near term flexibility, as announced in its Form 8-K dated December 1, 2025, the Company secured a bridge loan bearing interest at 6.5% per annum, with no fees, used largely to retire the ABL while it evaluates longer term capital solutions.
| Item 8.01. | Other Events. |
The information set forth in Item 1.02 above is incorporated by reference herein. On December 9, 2025, the Company issued a press release announcing the full repayment of the ABL.
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
| Item 9.01. | Financial Statement and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IPOWER, INC. | ||
| Dated: December 9, 2025 | ||
| By: | /s/ Chenlong Tan | |
| Name: | Chenlong Tan | |
| Title: | Chief Executive Officer | |
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