Paranovus Entertainment Technology Limited will effect a 1-for-100 reverse share split of its Class A ordinary shares. The shares will begin trading on a split-adjusted basis on Nasdaq under the symbol PAVS on June 29, 2026, with a new par value of $0.0012 per share. The reverse split will reduce the number of issued and outstanding Class A ordinary shares from 85,685,063 to approximately 856,851, subject to adjustments for fractional shares, which will be rounded up to the nearest whole share. The company's board approved the reverse split on May 14, 2026, and VStock Transfer LLC is acting as the exchange agent. Shareholders holding shares in book-entry form or brokerage accounts do not need to take any action.
Paranovus Entertainment Technology Ltd.Reverse share split is a capital structure change; no fundamental business impact.