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Paranovus Entertainment Technology Limited Announces Pricing of $5 Million Registered Direct Offering At-The-Market Under NASDAQ Rules

PAVS
  • Paranovus Entertainment Technology Limited (NASDAQ: PAVS) entered a definitive agreement with a single institutional investor for a registered direct offering of 14,285,715 Class A ordinary shares.
  • The shares were priced at-the-market under Nasdaq Rules at $0.35 per share.
  • Gross proceeds from the offering are expected to be approximately $5 million before placement agent commissions & other expenses.
  • The offering is expected to close on or about March 25, 2026, subject to customary closing conditions.
  • Net proceeds will be used for working capital & general corporate purposes.
  • A.G.P./Alliance Global Partners is acting as the financial advisor for the offering.
  • The shares are being offered pursuant to a prospectus supplement filed with the SEC relating to a shelf registration statement on Form F-3 effective December 3, 2025.
  • Warrants will be issued in a concurrent private placement exempt from registration under Section 4(a)(2) of the Securities Act & Regulation D.
  • Paranovus focuses on e-commerce & TikTok-related solutions via subsidiaries, having acquired Bomie Wookoo Inc. in March 2025.
  • The Company exited legacy e-commerce, internet information, & advertising businesses in September 2023 & ceased automobile sales in July 2024.