iPower shifts $2.0M payables to GPM in SDA supplement

iPower Inc. entered into a supplement to its existing supply and distribution agreement with Global Product Marketing, Inc. (GPM) and ETTS AI Investment LLC on June 30, 2026.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

iPower Inc. entered into a supplement to its existing supply and distribution agreement with Global Product Marketing, Inc. (GPM) and ETTS AI Investment LLC on June 30, 2026. Under this supplement, GPM assumed $2,007,366.86 of accounts payable owed to iPower’s suppliers in exchange for acquiring an equal amount of iPower’s existing inventory.

The supplement also releases iPower and GPM from their prior exclusive sourcing and distribution obligations to each other under the original agreement, giving both parties more flexibility in how they source and distribute products going forward.

Insights

iPower swaps payables for inventory transfer and ends exclusivity.

The supplement moves $2,007,366.86 of supplier accounts payable from iPower to its former subsidiary GPM, with GPM receiving inventory of the same value. This effectively pairs a liability transfer with a matching asset transfer.

Economically, iPower sheds obligations to suppliers tied to that inventory, while no cash amount is stated. The release of exclusive sourcing and distribution obligations may broaden iPower’s ability to work with other partners, though the filing does not quantify commercial impact.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Accounts payable assumed by GPM: $2,007,366.86 Inventory transferred to GPM: $2,007,366.86 Agreement date: June 30, 2026

3 metrics

Accounts payable assumed by GPM $2,007,366.86 Assumed by GPM in exchange for equal-value inventory on June 30, 2026

Inventory transferred to GPM $2,007,366.86 Existing iPower inventory exchanged for assumption of supplier payables

Agreement date June 30, 2026 Date of supplement to Supply and Distribution Agreement

Key Terms

Material Definitive Agreement, Supply and Distribution Agreement, accounts payable, exclusive sourcing and distribution obligations

4 terms

Material Definitive Agreement regulatory

"Item 1.01. Entry into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Supply and Distribution Agreement financial

"entered into a supply and distribution agreement (the “SDA”) with its formerly-wholly owned subsidiary"

accounts payable financial

"GPM assumed $2,007,366.86 of accounts payable owed to the Company’s suppliers"

Accounts payable are the short-term bills a company owes to suppliers or service providers for goods and services it has already received but not yet paid for — like a stack of IOUs from the business to its vendors. Investors watch accounts payable because rising or falling balances affect a company’s cash on hand and short-term financial health, signaling how well it can cover obligations, manage cash flow, and fund operations without borrowing.

exclusive sourcing and distribution obligations financial

"the Supplement releases the Company and GPM from exclusive sourcing and distribution obligations owed to one another"

FAQ

What agreement did iPower Inc. (IPW) update on June 30, 2026?

iPower updated its existing supply and distribution agreement with Global Product Marketing, Inc. and ETTS AI Investment LLC through a supplement signed June 30, 2026. This supplement modifies commercial terms and obligations between the parties, including liability for certain supplier accounts and exclusivity provisions.

How much accounts payable did GPM assume from iPower Inc. (IPW)?

Global Product Marketing, Inc. assumed $2,007,366.86 of accounts payable previously owed to iPower’s suppliers. In return, GPM acquired an equal amount of iPower’s existing inventory, aligning the transferred liability with inventory value in a non-cash reallocation between related parties.

What did GPM receive in exchange for assuming iPower’s payables?

In exchange for assuming $2,007,366.86 of supplier accounts payable, GPM acquired iPower’s existing inventory of the same value. This matches the liability it took on with equivalent inventory, effectively shifting both the asset and related obligations from iPower to GPM.

Did iPower Inc. (IPW) change exclusivity terms with GPM?

Yes. The supplement releases iPower and Global Product Marketing, Inc. from exclusive sourcing and distribution obligations they previously owed each other. This change means both parties are no longer bound to deal exclusively with one another for sourcing and distribution under the earlier agreement.

Who are the counterparties to iPower Inc. in the new supplement?

The counterparties are Global Product Marketing, Inc., a formerly wholly owned subsidiary of iPower, and ETTS AI Investment LLC, which is GPM’s 100% stockholder. All three entities are Nevada entities and are parties to both the original supply and distribution agreement and the June 30, 2026 supplement.

Where can investors find the full text of iPower’s new supplement?

The supplement to the supply and distribution agreement is filed as Exhibit 10.1, with the form of the original agreement as Exhibit 10.2. Both exhibits are incorporated by reference, allowing investors to review complete contractual details beyond the brief summary in this current report.

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

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Accepted by SEC EDGAR 07/02/2026 - 04:30 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (date of earliest event reported): June 30, 2026

iPower Inc.

(Exact name of registrant as specified in its charter)

Nevada

001-40391

82-5144171

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

8798 9th Street

Rancho Cucamonga, CA 91730

(Address of Principal Executive Offices) (Zip Code)

(626) 863-7344

(Registrant’s Telephone Number, Including Area Code)

___________________________

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock $0.001 per share		IPW		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

Supplement to Supply and Distribution Agreement

As previously disclosed in its Current Report on Form 8-K filed on February 2, 2026, on February 1, 2026, iPower Inc, a Nevada corporation (“iPower” or the “Company”), entered into a supply and distribution agreement (the “SDA”) with its formerly-wholly owned subsidiary, Global Product Marketing, Inc., a Nevada corporation (“GPM”), and its 100% stockholder, ETTS AI Investment LLC, a Nevada limited liability company (“ETTS AI”).

On June 30, 2026, the Company, GPM, and ETTS AI entered into a supplement to the SDA (the “Supplement”) pursuant to which GPM assumed $2,007,366.86 of accounts payable owed to the Company’s suppliers in exchange for acquiring an equal amount of the Company’s existing inventory. Additionally, the Supplement releases the Company and GPM from exclusive sourcing and distribution obligations owed to one another under the SDA.

The foregoing summary of the Supplement and the SDA does not purport to be complete and is qualified in its entirety by reference to each such agreement, the forms of which are filed with this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.

Item 9.01. Financial Statement and Exhibits.

(d) Exhibits.

Exhibit No.	Description
10.1	Supplement to Supply and Distribution Agreement, dated June 30, 2026, between iPower Inc., Global Product Marketing, Inc. and ETTS AI Investment LLC
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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: July 2, 2026
	By:	/s/ Chenlong Tan
	Name:	Chenlong Tan
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 SUPPLEMENT TO SUPPLY AND DISTRIBUTION AGREEMENT, DATED JUNE 30, 2026 13.8 KB

iPower shifts $2.0M payables to GPM in SDA supplement

Rhea-AI Filing Summary

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