(RTTNews) - iPower Inc. (IPW), Tuesday announced that its Board of Directors has approved a share repurchase program of upto $2 million, which is expected to be implemented in the near future.
The program, which is first in the company history, reflects alignment across iPower's capital structure and confidence in its financial position and strategic direction.
The company noted that the combination of new capital, recent cost-structure improvements, along with the program provides it with greater flexibility in capital allocation, while continuing to support its operating priorities and previously announced strategic initiatives.
Currently, IPW is trading at $4.2301, down 0.69 percent on the Nasdaq.
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