iPower Inc., one of the leading online suppliers of hydroponics equipment (“iPower” or the “Company"), announced that it has engaged Boustead Securities, LLC (“Boustead”) to provide advisory services in the areas of corporate development, corporate finance and capital placement transactions.
“Hydroponics equipment has been iPower’s focus for years, and the home gardening and cannabis growing booms have allowed us to become a major supplier to both sectors during the Covid-19 lockdowns and beyond,” iPower’s Founder and CEO Chenlong “Lawrence” Tan said. “The efficiency of iPower’s ecommerce sales channel has given us major advantages and broad product availabilities with more than 23,000 SKUs, including our own best-selling brands and major categories including grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, grow tents, trimming machines, pumps and accessories.”
“Boustead Securities is pleased to work with iPower to help meet its corporate finance and capital placement objectives,” said Boustead Managing Director and Head of Equity Capital Markets, Dan McClory. “We are impressed with the company that Lawrence has built, and its positioning with such notable growth, brand equity and recognition.”
This press release is not an offer to buy or solicit securities. Past performance is not indicative of future results. Investments may be speculative, illiquid and there is a risk of total loss. There is no guarantee that any specific outcome will be achieved.
About iPower, Inc.
iPower, Inc. is one of the largest online hydroponics equipment suppliers in the United States. The Company offers more than 23,000 stock keeping units and multiple best-selling products that enable customers to grow vegetables, fruits and flowers, and other plants, including cannabis. Leasing more than 72,000 square feet of floor space across two fulfillment centers near Los Angeles, California, iPower sells its products through its own retail website (www.zenhydro.com) and multiple third-party distribution channels, including Amazon, eBay and Walmart.
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About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information, please visit www.boustead1828.com.
Dan McClory, Head of Equity Capital Markets
Boustead Securities, LLC
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.