PAVS Commences ~$10M Offering Of 50M Class A Ordinary Shares At $0.20/Share

Paranovus Entertainment Technology Ltd. - Class A Ordinary Shares

Paranovus Entertainment Technology Ltd. - Class A Ordinary Shares

PAVS

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PAVS (NASDAQ:PAVS) (the "Company"), a consumer products and digital commerce solutions company, today announced that it has entered into a definitive agreement with certain institutional investors for a registered direct offering of an aggregate of 50,000,000 Class A ordinary shares (or pre-funded warrants to purchase Class A ordinary shares in lieu thereof) at a purchase price of $0.20 per share. The gross proceeds to the Company from the offering are expected to be approximately $10 million, before deducting offering expenses.

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