iPower Inc. filed a Form 8-K on September 22, 2026, disclosing the voting results from a special meeting of stockholders held on September 21, 2026, at which shareholders approved three proposals covering a stock offering authorization, a reverse stock split, and an amended equity incentive plan.

Key Highlights

  • Quorum and participation: Of 6,427,376 votes eligible to be cast, 2,322,467 shares were voted in person or by proxy, representing 36.13% of eligible votes.
  • Stock offering approved: Stockholders approved the issuance of up to $10,000,000 of common stock in one or more private placements or public offerings, with 2,272,998 votes for, 49,465 against, and 4 abstentions.
  • Reverse stock split authorized: Stockholders approved a reverse stock split at a ratio of up to 1-for-250, to be determined by the board of directors at its sole discretion, with 2,271,824 votes for, 50,639 against, and 4 abstentions.
  • Equity incentive plan amended: Stockholders approved a Third Amended and Restated 2020 Equity Incentive Plan setting total shares reserved for issuance at 50,000,000, with 2,283,378 votes for, 39,085 against, and 4 abstentions.
  • Evergreen provision adopted: The amended equity plan includes a 5% automatic annual increase in shares available for issuance over a period of ten years.

iPower Special Meeting Results: Three Proposals Voted on September 21, 2026

According to the filing, iPower Inc. (NASDAQ:IPW) held a special meeting of stockholders on September 21, 2026, at which three matters described in the company's definitive proxy statement, filed with the SEC on September 8, 2026, were put to a vote. The company disclosed that 2,322,467 shares were voted out of 6,427,376 eligible votes, representing 36.13% of the votes eligible to be cast.

The first proposal, described as the Stock Offering Proposal, authorized the issuance of up to $10,000,000 of common stock in one or more private placements or public offerings "at a price that may be above, equal to or below the Nasdaq Minimum Price," according to the filing. This authorization was stated to be for purposes of complying with Nasdaq Listing Rule 5635(d). The proposal passed with 2,272,998 votes for and 49,465 against.

The second proposal authorized an amendment to the company's Sixth Amended and Restated Articles of Incorporation to permit a reverse stock split at a ratio of up to 1-for-250, with the filing noting the exact ratio "to be determined at the discretion of the Company's board of directors" and may be implemented "on one or more occasions, when and as needed, to allow the Company to maintain compliance with Nasdaq listing requirements." The third proposal approved the Third Amended and Restated 2020 Equity Incentive Plan, which sets the total shares reserved for issuance at 50,000,000 and adds an evergreen provision for a 5% automatic annual increase in available shares over ten years. The filing was signed by Chief Executive Officer Chenlong Tan.

What Was Disclosed

iPower Inc. reported the outcome of three stockholder votes at a September 21, 2026 special meeting, covering a stock offering authorization of up to $10,000,000, a potential reverse stock split of up to 1-for-250, and an amended equity incentive plan reserving 50,000,000 shares.