Corporate ActionJun 9, 2026, 01:36 PM
Paranovus Entertainment to Sell up to $195M Class A Shares via ATM Offering
AI Summary
Paranovus Entertainment Technology Ltd. has entered into a sales agreement with AC Sunshine Securities LLC for an "at the market" offering of its Class A ordinary shares. The company plans to sell up to $194,999,999.75 worth of shares from time to time through the agent, who will receive a 3.5% commission on gross proceeds. This offering is registered under a previously filed shelf registration statement.
Key Highlights
- Paranovus Entertainment entered a sales agreement with AC Sunshine Securities LLC on June 4, 2026.
- The agreement facilitates an "at the market" offering of Class A ordinary shares.
- The company can sell up to $194,999,999.75 in Class A Ordinary Shares.
- AC Sunshine Securities LLC will act as sales agent and/or principal for the offering.
- The sales agent will receive a commission of 3.5% of the gross proceeds from sales.
- Sales will be made on the Nasdaq Capital Market or other existing trading markets.
- The offering is registered under the company's Form F-3 shelf registration statement.
Price Impact
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