iPower Highlights Strengthened Balance Sheet Position and Increased Strategic Flexibility

iPower (Nasdaq: IPW) reported its collateral account held approximately $2.2M cash, 15.1 BTC, and 301.1 ETH as of April 28, 2026.

Rhea-AI Summary

iPower (Nasdaq: IPW) reported its collateral account held approximately $2.2M cash, 15.1 BTC, and 301.1 ETH as of April 28, 2026. Using current reference market prices, the aggregate reference market value is approximately $4.05M, versus an estimated remaining note balance of $3.69M.

The company says this position enhances financial flexibility and optionality while it evaluates capital allocation, operating efficiency, and strategic opportunities. The reference market value is not a contractual collateral or payoff amount and may differ from amounts under financing documents.

Positive

• Collateral value approx $4.05M as of April 28, 2026
• Cash on hand approximately $2.2M in collateral account
• Digital assets held include 15.1 Bitcoin and 301.1 Ethereum
• Reference value exceeds note balance of approximately $3.69M

Negative

• Reference market value is not a contractual collateral or payoff amount
• Digital asset exposure may introduce valuation variability versus contractual calculations

Argus Apr 29 session

+5.01% close to close Open Argus

Details

News Market Reaction – IPW

On Apr 29, the day this news came out, IPW closed 5.01% above the previous close.

Data tracked by StockTitan Argus for the Apr 29 session.

Key Figures

Cash in collateral account: $2.2 million Bitcoin holdings: 15.1 Bitcoin Ethereum holdings: 301.1 Ethereum +2 more

Cash in collateral account

$2.2 million

U.S. dollar cash as of April 28, 2026

Bitcoin holdings

15.1 Bitcoin

Held in collateral account as of April 28, 2026

Ethereum holdings

301.1 Ethereum

Held in collateral account as of April 28, 2026

Aggregate reference value

$4.05 million

Reference market value of cash and digital assets in collateral account

Remaining note balance

$3.69 million

Outstanding balance owed to institutional investor

Historical Context

5 past events · Latest: Apr 17

5 events

1. Apr 17

   Sublease income deal

   24h Move

   +4.5%

   Subleased warehouse space, adding over $2.6M contracted non-dilutive income.

2. Feb 23

   Crypto hardware MOU

   24h Move

   -31.7%

   Non-binding MOU to explore U.S. distribution of crypto infrastructure hardware.

3. Feb 20

   Q2 2026 earnings

   24h Move

   -31.7%

   Revenue fell to $7.1M, gross profit $3.1M, net loss of $1.2M.

4. Feb 10

   Share repurchase plan

   24h Move

   +3.3%

   Board authorized first-ever $2M share repurchase program with creditor support.

5. Feb 02

   Strategic divestiture

   24h Move

   -8.5%

   Sold GPM for about $2.3M while eliminating a major operating cost center.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

collateral account, marketable digital assets, capital allocation, liquidity, +2 more

6 terms

collateral account financial

"the Company’s collateral account includes approximately $2.2 million..."

A collateral account is a dedicated account where assets are held as security for a loan, margin position, or other obligation so the lender or counterparty can seize or liquidate them if the borrower fails to meet terms. For investors, collateral accounts matter because they reduce credit risk, affect a borrower’s liquidity and access to financing, and can trigger transfers or margin calls that change cash flow—think of it like an escrow or locked deposit that guarantees a promise.

marketable digital assets financial

"cash and marketable digital assets held in the collateral account..."

Marketable digital assets are electronic items of value that can be bought and sold on public trading venues — for example cryptocurrencies, tokenized stocks or bonds, and other tradable digital tokens. They matter to investors because they behave like tradable securities: their price can be marked-to-market, they offer liquidity (you can usually convert them to cash quickly), and they introduce specific risks and regulatory considerations, much like holding a stock or commodity in a digital form.

capital allocation financial

"iPower remains focused on disciplined capital allocation, operational efficiency..."

Capital allocation is the process of deciding how a company or individual uses their money to grow, pay bills, save, or invest. It matters because good decisions can help build wealth and ensure resources are used wisely, while poor choices can limit growth or cause financial problems. Think of it like managing your allowance—deciding whether to spend, save, or invest to meet your goals.

View in glossary

liquidity financial

"based on market conditions, liquidity needs, contractual obligations..."

Liquidity is how easily and quickly an asset or investment can be converted into cash without losing value. It matters to investors because higher liquidity means they can access their money quickly if needed, while lower liquidity can make it harder to sell assets promptly or at a fair price, potentially creating financial challenges. Think of it like trying to sell a common item versus a rare collectible—it's much easier to sell the common item fast.

View in glossary

covenant compliance regulatory

"not intended to represent contractual collateral calculations, covenant compliance..."

Meeting the rules and limits set by a loan or bond agreement — such as limits on additional borrowing, minimum cash or profit levels, or restrictions on asset sales — is covenant compliance. It matters to investors because maintaining compliance is like staying within traffic laws for a company: it preserves lender trust, keeps borrowing costs and access to credit intact, and reduces the risk of forced repayment or other penalties that can hurt a company’s value.

conversion values financial

"not intended to represent... payoff amounts, conversion values, premiums..."

Conversion value is the worth of shares you would receive if a convertible security—like a convertible bond or preferred stock—were exchanged for common stock at the agreed conversion rate. For investors, it shows whether holding the convertible or switching into shares is more valuable: if the conversion value exceeds the bond’s market price, converting can unlock immediate gain, much like trading a voucher for a product that’s worth more than the voucher’s sale price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Cash and marketable digital assets held in collateral account provide enhanced financial flexibility as Company evaluates future growth opportunities

RANCHO CUCAMONGA, California, April 29, 2026 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a technology- and data-driven supply chain and infrastructure provider for online retailers and brands, today provided an update on its balance sheet position and financial flexibility.

As of April 28, 2026, the Company’s collateral account includes approximately $2.2 million of U.S. dollar cash, 15.1 Bitcoin and 301.1 Ethereum. Based on current reference market prices, the aggregate reference market value of the cash and marketable digital assets held in the collateral account is approximately $4.05 million, compared with an approximately $3.69 million remaining note balance outstanding to the Company’s institutional investor.

The Company believes this position enhances its financial flexibility and provides additional optionality as it continues to execute its operating strategy, improve efficiency, and evaluate future growth opportunities.

“Strengthening our balance sheet remains a key priority for iPower,” said Lawrence Tan, Chief Executive Officer of iPower. “Our current position provides the Company with greater flexibility as we continue to improve our operating platform, evaluate strategic opportunities and position the business for long-term shareholder value creation.”

iPower remains focused on disciplined capital allocation, operational efficiency, and building a stronger foundation for future growth. The Company believes its improved balance sheet position may support a broader range of strategic initiatives, including operating partnerships, platform expansion, technology initiatives, supply chain optimization and other opportunities aligned with its long-term business strategy.

“Our focus is on building a stronger and more flexible company,” continued Tan. “We believe disciplined execution, a more efficient operating structure, and improved financial flexibility can create a stronger foundation for iPower’s next phase of growth.”

The Company emphasized that it will continue to evaluate capital allocation decisions based on market conditions, liquidity needs, contractual obligations and strategic priorities. The reference market value described above is not intended to represent contractual collateral calculations, covenant compliance, payoff amounts, conversion values, premiums, fees, accrued interest, or any other contractual amounts that may apply under the Company’s financing documents.

About iPower Inc.

iPower Inc. (Nasdaq: IPW) is a technology- and data-driven supply chain and infrastructure provider for online retailers and brands, operating at the intersection of digital assets and real-world commerce. The Company delivers procurement, fulfillment, logistics and software-enabled services, and is executing a broader crypto strategy through licensed partners and compliant infrastructure. For more information, please visit www.meetipower.com.

Forward-Looking Statements

All statements other than statements of historical fact in this press release are forward-looking statements. Forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “predict,” “project,” “target,” “potential,” “seek,” “will,” “would,” “could,” “should,” “continue,” “contemplate,” “plan,” and other words and terms of similar meaning. Such statements involve known and unknown risks and uncertainties and are based on current expectations and projections. Actual results may differ materially from those set forth herein. iPower undertakes no obligation to update forward-looking statements except as required by law. Investors are encouraged to review iPower’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

Media & Investor Contact
IPW.IR@meetipower.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What collateral did iPower (IPW) report holding on April 28, 2026?

The company reported $2.2M cash, 15.1 Bitcoin, and 301.1 Ethereum in its collateral account. According to the company, these assets had an aggregate reference market value of approximately $4.05M on that date.

How does iPower's collateral value compare to its outstanding note balance (IPW)?

iPower reported the aggregate reference market value at about $4.05M versus a remaining note balance of about $3.69M. According to the company, the reference value therefore exceeds the noted outstanding balance by roughly $0.36M.

Does iPower (IPW) say the reported market value equals contractual collateral or payoff amounts?

No. According to the company, the reference market value is not intended to represent contractual collateral calculations, covenant compliance, payoff amounts, or other financing-document figures.

How might iPower (IPW) use its improved balance sheet position?

The company says the position may support broader strategic initiatives like operating partnerships and platform expansion. According to the company, it will evaluate capital allocation based on market conditions, liquidity needs, and contractual obligations.

What digital-asset quantities did iPower disclose for investor consideration (IPW)?

iPower disclosed holdings of 15.1 Bitcoin and 301.1 Ethereum in its collateral account. According to the company, those quantities contributed to the reported aggregate reference market value of about $4.05M.