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iPower Inc. (NASDAQ:IPW) announced Wednesday that it has received formal approval from the Nasdaq Stock Market LLC for an additional 180-day grace period to regain compliance with the exchange’s minimum bid price requirement. The company now has until December 29, 2025, to meet the $1.00 per share minimum closing bid price required for continued listing on the Nasdaq Capital Market.
According to a statement based on a Securities and Exchange Commission filing, iPower had previously disclosed that it received a deficiency letter from Nasdaq on January 2, 2025. The notice stated that, for the 30 consecutive business days between November 15, 2024, and December 31, 2024, the company’s common stock closed below the $1.00 per share threshold set by Nasdaq Listing Rule 5550(a)(2).
The company was initially given 180 calendar days, until July 1, 2025, to regain compliance. As the initial period neared its end, iPower submitted a compliance plan to Nasdaq on June 12, 2025, requesting an additional 180-day extension. The company, which maintains a market capitalization of $21.61 million and a FAIR Financial Health Score according to InvestingPro, will need to demonstrate sustainable price improvement to maintain its listing. The plan included steps the company may take to meet the requirement, such as a potential reverse stock split.
With the extension granted on July 2, 2025, iPower’s common stock will continue to trade on Nasdaq under the symbol “IPW.” If at any time before December 29, 2025, the closing bid price of the company’s shares meets or exceeds $1.00 for at least 10 consecutive business days, Nasdaq staff will confirm compliance in writing.
If iPower does not regain compliance by the deadline, it will receive written notice from Nasdaq that its common stock is subject to delisting. The company would then have the opportunity to appeal the determination to a Nasdaq Hearings Panel.
iPower stated that it intends to monitor its closing bid price and consider available options to regain compliance prior to the new deadline. This information is based on a press release statement and the company’s recent SEC filing.
In other recent news, iPower Inc. announced the results of its annual stockholders’ meeting, where all director nominees were elected, and a reverse stock split authorization was approved to maintain Nasdaq compliance. The company is also undergoing a strategic transformation to focus on Bitcoin treasury and blockchain services, marking a shift from its current business model. iPower plans to incorporate these new services into its SuperSuite platform, while still supporting existing operations. Additionally, iPower has initiated a joint venture named United Package NV LLC to bolster its U.S. manufacturing strategy, aiming to produce packaging materials domestically and reduce reliance on overseas manufacturing. This initiative is part of its "Made in USA" module and is expected to enhance supply chain resilience and reduce carbon footprints. In a recent board reshuffle, iPower appointed Yue Guo as an independent director, who will serve as Chair of the Nominating and Corporate Governance Committee. Guo brings extensive experience from the IT and internet industry, having previously worked at Amazon (NASDAQ:AMZN) Web Services, JD Cloud Technology, and Baidu (NASDAQ:BIDU). These developments highlight iPower’s ongoing efforts to adapt and expand its business operations.
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