iPower to fund first tranche of share buyback program this week

iPower Inc. (NASDAQ: IPW) announced it has executed documents to implement a trading plan for its previously authorized share repurchase program. The company expects to fund the first tranche of the repurchase account this week.

The trading plan will become active following completion of the broker execution process and satisfaction of procedural and regulatory requirements, according to the company's statement.

iPower's Board of Directors previously authorized a share repurchase program of up to $2.0 million of the company's common stock. 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 stated.

iPower describes itself as a technology and data-driven company operating at the intersection of AI infrastructure and real-world commerce. The company's platform includes e-commerce operations and an AI infrastructure investment portfolio.

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