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Paranovus Entertainment Technology Limited Signs Non-Binding Letter of Intent to Acquire Jabanero Inc.

PAVS
  • Paranovus Entertainment Technology Ltd. (NASDAQ: PAVS) announced a non-binding Letter of Intent to acquire 100% of Jabanero Inc., a consumer brand focused on women's activewear & lifestyle products.
  • The proposed aggregate purchase price ranges from US$15 million to US$20 million, payable in cash at closing, subject to final determination after due diligence reviews.
  • PAVS will engage an independent advisor to provide a fairness analysis regarding the consideration for Jabanero shareholders.
  • The transaction includes a 60-day exclusivity period during which neither party may negotiate with other potential buyers.
  • Closing is contingent on customary conditions, including board approvals & shareholder approval from PAVS.
  • The acquisition aims to expand PAVS beyond digital commerce & livestreaming into proprietary brands & direct-to-consumer products.
  • CEO Xiaoyue Zhang stated the deal complements existing social commerce capabilities to drive long-term growth.
  • The transaction remains subject to due diligence, definitive agreement negotiation, & receipt of required approvals.
  • PAVS previously acquired Bomie Wookoo Inc. in March 2025 & has exited legacy e-commerce, internet information, advertising, & automobile sales businesses.
  • The press release includes forward-looking statements subject to risks that could cause actual results to differ from expectations.