iPower, Inc., an online hydroponic equipment supplier based in Duarte, United States, has recently completed a significant transaction involving its subsidiary, Global Product Marketing, Inc. The company, operating within the Industrials sector and listed on the Nasdaq stock exchange, announced the conclusion of a software asset transfer and the sale of its equity stake in Global Product Marketing to ET TS AI Investment LLC. This transaction, finalized on February 1, 2026, was supported by a $2.3 million promissory note.
In a current report filed on March 26, 2026, iPower disclosed the details of this transaction. Subsequently, on the same day, iPower and ET TS AI Investment LLC entered into an amendment to the promissory note. This amendment notably restates the “Change of Control” provision, broadening its scope to encompass significant changes in executive management, board composition, business model, and supply-chain disposition. These changes are defined as those that could materially impact iPower’s relationship with Global Product Marketing.
The amendment aims to safeguard iPower’s interests by ensuring that any substantial alterations in the subsidiary’s governance or operational strategy are accounted for, potentially affecting the company’s strategic alignment and operational synergy with Global Product Marketing. Despite these changes, all other terms of the original promissory note remain unchanged.
The filing, which includes the amendment as Exhibit 10.1, also contains related financial statements. Importantly, no additional material events were reported in conjunction with this transaction.
As of March 31, 2026, iPower’s stock closed at $1.43, reflecting a significant decrease from its 52-week high of $34.65 on September 21, 2025, and a slight increase from its 52-week low of $1.215 on March 30, 2026. The company’s market capitalization stands at $1,730,000 USD, with a price-to-earnings ratio of -0.29, indicating a challenging financial performance period.
iPower continues to serve the global market with its range of hydroponic products designed for growing vegetables, fruits, flowers, and other plants. For further information, stakeholders can visit the company’s website at www.zenhydro.com .
