iPower Inc.

iPower Inc. (IPW) priced its initial public offering on May 13, 2021 at $5.00 per share, below its $7.00–$9.00 range, raising $16.8M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $124.8M. Roth Capital was lead-left underwriter, joined by US Tiger. Michelman & Robinson advised the company and Orrick advised the underwriters.

iPower Inc. is an online retailer and supplier of hydroponic equipment and accessories in North America. It sells in-house and third-party brands through its own website and partners such as Amazon, Walmart and eBay, fulfilling orders from two fulfillment centers in southern California.

Status

IPO

Ticker

IPW

Exchange

Nasdaq Capital Market

Priced

May 13, 2021

IPO price

$5.00

Price range

$7.00–$9.00

Raised

$16.8M

Market cap at IPO price

$124.8M

First filed

Feb 1, 2021

Underwriters

Roth Capital and US Tiger

Company counsel

Michelman & Robinson

Underwriters' counsel

Orrick

Sector

Consumer

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.