Paranovus Entertainment Technology Ltd.

Paranovus Entertainment Technology Ltd. announced the sale of 12,500 Class B ordinary shares to Happy Group Inc., an entity wholly owned by its Chairwoman, Minzhu Xu, for $100,000. This transaction, closed on July 2, 2026, increased Ms. Xu's beneficial ownership to approximately 54.32% of the company's aggregate voting power. Additionally, the company changed its independent registered public accounting firm, with HHL LLP resigning and HCL, PLLC being appointed, effective June 26, 2026, with no reported disagreements.

Paranovus Entertainment Technology Ltd. announced the closing of its registered direct offering, generating approximately $10 million in gross proceeds. The offering involved the sale of 9,300,000 Class A ordinary shares at $0.20 per share and pre-funded warrants to purchase 40,700,000 Class A Ordinary Shares at $0.1999 per warrant. The company intends to use the net proceeds for working capital and general corporate purposes. Additionally, directors, officers, and significant shareholders entered into 45-day lock-up agreements.

Paranovus Entertainment Technology Ltd. (PAVS) has entered into a definitive agreement for a registered direct offering with institutional investors. The company will sell 50,000,000 Class A ordinary shares (or pre-funded warrants) at $0.20 per share, expecting to raise approximately $10 million in gross proceeds. The net proceeds are intended for evaluating and pursuing strategic acquisition opportunities in the consumer products, wellness, fitness, lifestyle, and digital commerce sectors, as well as for working capital and general corporate purposes. The offering is anticipated to close around June 16, 2026.

Paranovus Entertainment Technology Ltd. announced the termination of its sales agreement with AC Sunshine Securities LLC, effective June 14, 2026. The agreement, established on June 4, 2026, allowed the company to sell Class A ordinary shares through an at-the-market offering. Prior to termination, Paranovus successfully sold 39,248,940 Class A Ordinary Shares, generating gross proceeds of $30,967,191.

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.

Paranovus Entertainment Technology Ltd. announced the purchase of a secured convertible promissory note from Knox Golf Academy, Inc. for up to US$1,000,000. The investment, funded in two tranches with the first US$500,000 already disbursed, carries a 10% annual interest rate and is convertible into Knox common stock. The note is secured by Knox's assets and equity, guaranteed by its controlling shareholder, and grants Paranovus the right to appoint a director to Knox's board.

Paranovus Entertainment Technology Ltd. held an Extraordinary General Meeting on April 28, 2026, where shareholders approved three key proposals. These included a significant increase in the company's authorized share capital, the adoption of the seventh amended and restated memorandum and articles of association, and the authorization for the board to implement one or more reverse share splits with a cumulative ratio not exceeding 1:5,000 within two years. All proposals were approved by a substantial majority of votes.