false 0001830072 0001830072 2024-05-30 2024-05-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

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): May 30, 2024

 

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 5.07 Submission of Matters to a Vote of Security Holders.

 

On May 30, 2024, the Company held its 2024 annual meeting of stockholders (the “Annual Meeting”), at which the Company’s stockholders considered four proposals, each of which is described in more detail in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 25, 2024 (the “Proxy Statement”). At the Annual Meeting, there were a total of 29,818,232 votes eligible to be cast and there were a total of 25,039,880 shares voted in person or by proxy, representing 83.97% of the votes eligible to be cast. The final voting results for each matter are set forth in more detail below.

 

1. Election of Directors.

 

All of the following five nominees were elected to the Company’s board of directors, in accordance with the voting results listed below, to serve for a term of one year, until the next annual meeting and until their successors have been duly elected and qualified.

 

Nominee   For     Against     Withheld     Broker Non-Votes  
Chenlong Tan     20,804,929       0       284,809       3,950,142  
Kevin Vassily     20,805,915       0       283,823       3,950,142  
Bennet Tchaikovsky     20,264,956       0       824,782       3,950,142  
Kevin Liles     20,361,721       0       728,017       3,950,142  
Hanxi Li     20,359,492       0       730,246       3,950,142  

 

2. Ratification of the Company’s Independent Auditors.

 

Stockholders ratified the appointment of UHY LLP as the independent auditor for the fiscal year ending June 30, 2024, in accordance with the voting results below.

 

For   Against   Abstain   Broker Non-Votes
24,596,986   249,793   193,101   –

 

3. Approval of the Company’s Executive Compensation.

 

Stockholders approved (on an advisory basis) the Company’s executive compensation.

 

For   Against   Abstain   Broker Non-Votes
20,795,208   34,837   259,693   3,950,142

 

4. Approval of the amendment to the Company’s Sixth Amended and Restated Articles of Incorporation to effect, at the discretion of its board of directors, a reverse stock split of the Company’s common stock at a stock split ratio between 1-for-2 and 1-for-10, with the ultimate ratio to be determined by the board of directors in its sole discretion, the implementation and timing of which shall be subject to the discretion of the board of directors (the “Reverse Stock Split”).

 

Stockholders approved the Reverse Stock Split.

 

For   Against   Abstain   Broker Non-Votes
24,335,619   492,446   211,815   –

 

 

 

 

 2 

 

 

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.

 

Dated: May 31, 2024  
     
IPOWER, INC.  
     
By: /s/ Chenlong Tan  
Name: Chenlong Tan  
Title: Chief Executive Officer  

 

 

 

 

 

 

 

 

 

 

 

 

 3 

v3.24.1.1.u2
Cover
May 30, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date May 30, 2024
Entity File Number 001-40391
Entity Registrant Name iPower Inc.
Entity Central Index Key 0001830072
Entity Tax Identification Number 82-5144171
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 8798 9th Street
Entity Address, City or Town Rancho Cucamonga
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91730
City Area Code (626)
Local Phone Number 863-7344
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock $0.001 per share
Trading Symbol IPW
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
iPower (NASDAQ:IPW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas iPower.
iPower (NASDAQ:IPW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas iPower.