iPower authorizes first-ever $2 million share repurchase program

iPower Inc. (NASDAQ: IPW) announced its board of directors approved the company's first share repurchase program, authorizing up to $2 million for stock buybacks. The program received support from all of the company's creditors, according to a press release statement.

The Rancho Cucamonga, California-based company expects to implement the repurchase program in the near future, subject to market conditions and applicable regulations. iPower operates as a supply chain and infrastructure provider for online retailers and brands.

"This is a meaningful milestone for iPower," said Lawrence Tan, chief executive officer. "Authorizing our first-ever share repurchase program — with the unified support of all creditors — underscores the progress we have made in strengthening our balance sheet and helps position the Company for disciplined, long-term value creation."

The company stated the authorization provides greater flexibility in capital allocation while continuing to support operating priorities and strategic initiatives. iPower noted the program reflects alignment across its capital structure and confidence in its financial position.

iPower described itself as a technology and data-driven company that delivers procurement, fulfillment, logistics and software-enabled services. The company also operates at the intersection of digital assets and commerce through licensed partners and compliant infrastructure.

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