Paranovus Entertainment prices $5 million direct offering

NEW YORK, March 25, 2026 /PRNewswire/ -- Paranovus Entertainment Technology Limited (NASDAQ: PAVS) today announced that it has entered into a definitive agreement with a single institutional investor for a registered direct offering priced at-the-market under Nasdaq Rules of an aggregate of 14,285,715 Class A ordinary shares (or Class A ordinary share equivalents in lieu thereof) at a purchase price of $0.35 per share. The gross proceeds to the Company from the offering are expected to be approximately $5 million, before deducting placement agent commissions and other offering expenses.

The offering is expected to close on or about March 25, 2026, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting as the financial advisor for the offering.

The Class A ordinary shares (or Class A ordinary shares equivalents in lieu thereof) are being offered and sold pursuant to a prospectus supplement to be filed with the Securities and Exchange Commission ("SEC") in connection with a takedown from the Company's shelf registration statement on Form F-3 (File No. 333-291788), which was declared effective by the Securities and Exchange Commission ("SEC") on December 3, 2025. The offering is being made only by means of a prospectus supplement and accompanying prospectus which are a part of the effective registration statement. The warrants will be issued in a concurrent private placement. A prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement and the accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com. The private placement of the warrants and the ordinary shares underlying the warrants offered to the institutional investor(s) will be made in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

For more information on our latest innovations and developments, visit https://www.pavs.ai/.