American Marconi Wireless News - Paranovus Entertainment Technology Limited Announces 1-For-100 Reverse Share Split

Our Class A Ordinary Shares will begin trading on a reverse share split-adjusted basis at the opening of The Nasdaq Capital Market ("Nasdaq") on June 29, 2026. Following the reverse share split, the Class A Ordinary Shares will have a new par value of $0.0012 per share and will continue to trade on Nasdaq under the symbol "PAVS" with the new CUSIP number, G4289N155. The reverse share split is expected to lead the Company's Class A Ordinary Shares to trade at approximately 100 times the price per share at which it trades prior to the effectiveness of the reverse share split. The Company, however, cannot assure that the price of its Class A Ordinary Shares after the reverse split will reflect the 1-for-100 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price.

No fractional shares will be issued in connection with the reverse share split and all such fractional interests will be rounded up to the nearest whole number of Class A Ordinary Shares.

The reverse share split will reduce the number of issued and outstanding shares of the Company's Class A Ordinary Shares from 85,685,063 to approximately856,851, subject to any adjustments resulting from the treatment of the fractional shares.

On May 14, 2026, the board of directors of the Company approved the reverse share split of the Class A Ordinary Shares, at a ratio of 1-for-100.

VStock Transfer LLC is acting as the exchange agent and paying agent for the reverse share split. Shareholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse share split.

VStock Transfer LLC will provide instructions to any shareholders with certificates regarding the process in connection with the exchange of pre-reverse share split share certificates for ownership in book-entry form or share certificates on a post-reverse share split basis. Shareholders are encouraged to contact their bank, broker or custodian with any procedural questions.

About Paranovus Entertainment Technology Limited

Paranovus Entertainment Technology Ltd. (Nasdaq: PAVS) is a consumer products and digital commerce solutions company. In March 2025, the Company completed the acquisition of the controlling equity interests of Bomie Wookoo Inc., a New York company that offers e-commerce solutions. As part of its strategic transformation, Paranovus has

exited its legacy businesses, including the e-commerce, internet information, and advertising businesses in September 2023 and ceased its automobile sales business in July 2024.

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

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; the Company's future acquisition opportunities; the Company's ability to identify any acquisition opportunities that fit with our business strategies; the Company's ability to consummate an attractive acquisition and realize the benefits of such transaction; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Michael Chen
929.215.4832
[email protected]

SOURCE: Paranovus Entertainment Technology Ltd.

View the original press release on ACCESS Newswire

Ch.Havering--AMWN