RANCHO CUCAMONGA, Calif. - iPower Inc. (NASDAQ:IPW) has executed documents to implement a trading plan for its previously authorized share repurchase program, according to a press release. The move comes as the stock trades at $4.27 with a market capitalization of $2.82 million, after a sharp 33% decline over the past week.
The trading plan is expected to become active after completing the broker execution process and meeting regulatory requirements. iPower plans to fund the first tranche of the repurchase account this week.
The Board of Directors previously authorized a share repurchase program of up to $2 million, representing about 71% of the company's current market value. The timing, amount, and manner of repurchases will depend on market conditions, share price, trading volume, legal requirements, and other business considerations.
The program does not obligate the company to acquire any specific number of shares and may be modified, suspended, or discontinued at any time.
iPower describes itself as a technology- and data-driven company operating in AI infrastructure and e-commerce.
