iPower Inc. Announces $5 Million Registered Direct Offering
2024年6月17日 - 8:45PM
iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and
data-driven online retailer and supplier of consumer home, pet and
garden products, as well as a provider of value-added ecommerce
services, today announced that it has entered into a definitive
securities purchase agreement for the purchase and sale of
2,083,334 shares of the Company’s common stock (or common stock
equivalents) at a purchase price of $2.40 per share of common stock
(or common stock equivalent) in a registered direct offering. In a
concurrent private placement, the Company will issue warrants to
purchase up to 2,083,334 shares of common stock. The warrants have
an exercise price of $2.40 per share, will be immediately
exercisable upon issuance and will have a term of five years
following the initial date of exercise. The closing of the offering
is expected to occur on or about June 18, 2024, subject to the
satisfaction of customary closing conditions.
Roth Capital Partners is acting as the exclusive
placement agent for the offering.
The gross proceeds to the Company from this
offering are expected to be approximately $5 million, before
deducting the placement agent’s fees and other offering expenses
payable by the Company. The Company intends to use the net proceeds
from this offering to pursue growth strategies, including potential
merger and acquisition activities, and general corporate
purposes.
The securities in the offering described above
(but not the warrants issued in the concurrent private placement or
the shares of common stock underlying such warrants) are being
offered by the Company pursuant to a “shelf” registration statement
on Form S-3 (File No. 333-274665) previously filed with the
Securities and Exchange Commission (the “SEC”) and declared
effective by the SEC on September 29, 2023. The offering is being
made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement,
relating to the offering that will be filed with the SEC.
Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained, when available, on the
SEC’s website at http://www.sec.gov or by contacting Roth Capital
Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, by
phone at (800) 678-9147.
The warrants described above were offered in a
private placement under Section 4(a)(2) of the Securities Act of
1933, as amended (the “Act”), and Regulation D promulgated
thereunder and, along with the shares of common stock underlying
the warrants, have not been registered under the Act, or applicable
state securities laws. Accordingly, the warrants and underlying
shares of common stock may not be offered or sold in the United
States except pursuant to an effective registration statement or an
applicable exemption from the registration requirements of the Act
and such applicable state securities laws.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About iPower Inc.
iPower Inc. is a tech and data-driven online
retailer and supplier of consumer home, pet and garden products, as
well as a provider of value-added ecommerce services for
third-party products and brands. iPower's capabilities include a
full spectrum of online channels, robust fulfillment capacity, a
network of warehouses serving the U.S., competitive last mile
delivery partners and a differentiated business intelligence
platform. With these capabilities, iPower efficiently moves a
diverse catalog of SKUs from its supply chain partners to end
consumers every day, providing the best value to customers in the
U.S. and other countries. For more information, please visit
iPower's website at www.meetipower.com.
Forward Looking Statements
All statements other than statements of
historical fact in this press release are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that iPower believes may affect its financial condition,
results of operations, business strategy, and financial needs.
Investors can identify these forward-looking statements by words or
phrases such as "may," "will," "expect," "anticipate," "aim,"
"estimate," "intend," "plan," "believe," "potential," "continue,"
"is/are likely to" or other similar expressions. iPower undertakes
no obligation to update forward-looking statements to reflect
subsequent events or circumstances, or changes in its expectations,
except as may be required by law. Although iPower believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and iPower cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results and performance in iPower's Annual Report on Form
10-K, as filed with the SEC on September 15, 2023, its Quarterly
Reports on Form 10-Q, and in its other SEC filings.
Investor Relations Contact:
Sean Mansouri, CFAElevate IR(720)
330-2829IPW@elevate-ir.com
iPower (NASDAQ:IPW)
過去 株価チャート
から 8 2024 まで 9 2024
iPower (NASDAQ:IPW)
過去 株価チャート
から 9 2023 まで 9 2024