Paranovus Entertainment Technology Ltd. SEC Filings

Paranovus Entertainment Technology Ltd. entered into an asset purchase agreement with Jabanero Inc. on July 30, 2026 to acquire substantially all assets of the Heyviva athletic wear business and brand for $33,000,000 in cash. Purchased assets include U.S. trademark registrations and applications, trade names, know-how, trade secrets, domain names and websites, social media accounts, inventory, customer data, assigned contracts, and related books, records and goodwill.

The price is payable in four installments: $16,500,000 at signing; $4,950,000 after transfer of specified domain names; $4,950,000 after Paranovus is recorded as owner of the U.S. trademark registrations and applications; and $6,600,000 after transfer of all other Purchased Assets and written confirmation of completion. Jabanero retains European Union and United Kingdom trademarks but grants Paranovus a seven-year right of first refusal to acquire them. The transaction closed on August 5, 2026 after satisfaction or waiver of closing conditions, and Paranovus states it expects the Heyviva acquisition to create synergies with its social commerce operations and support long-term growth.

Paranovus Entertainment Technology Ltd. reported two key corporate actions. First, its audit committee accepted the resignation of HHL LLP as independent registered public accounting firm and appointed HCL, PLLC, both effective June 26, 2026. The company states there were no disagreements or reportable events with the former auditor during its engagement.

Second, on June 30, 2026 Paranovus entered a securities purchase agreement with Happy Group Inc., an affiliate wholly owned by chairwoman Minzhu Xu. The affiliate bought 12,500 Class B ordinary shares at $8.00 per share, for gross proceeds of $100,000, a 130% premium to the June 29, 2026 Class A closing price. After closing on July 2, 2026, Xu beneficially owns 4 Class A and 12,739 Class B shares, representing about 54.32% of the company’s aggregate voting power.

Paranovus Entertainment Technology Limited completed a $10 million registered direct offering of equity securities. The company sold 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 pre-funded warrants are immediately exercisable at $0.0001 per share until fully exercised.

The deal was conducted under Paranovus’s effective Form F-3 shelf registration. The company agreed not to issue additional equity or file new registration statements for 45 days after closing and to avoid variable rate transactions for six months, subject to exceptions. Directors, officers, and major shareholders entered 45-day lock-up agreements. A.G.P./Alliance Global Partners acted as exclusive financial advisor, earning a 7% cash fee and up to $50,000 in expense reimbursement. Paranovus plans to use net proceeds for working capital and general corporate purposes.

Paranovus Entertainment Technology Ltd. is offering 9,300,000 Class A Ordinary Shares and pre-funded warrants to purchase 40,700,000 Class A Ordinary Shares at a public offering price of $0.20 per share (pre-funded warrant price $0.1999). The pre-funded warrants have an exercise price of $0.0001 per share and are immediately exercisable, subject to a 9.99% Beneficial Ownership Limitation. The company expects net proceeds of approximately $9.2 million, intends to use proceeds for evaluating and pursuing strategic acquisitions and for working capital, and lists its Class A Ordinary Shares on Nasdaq under the symbol PAVS.

Paranovus Entertainment Technology Limited terminated its at-the-market share sales agreement with AC Sunshine Securities LLC by mutual consent, effective June 14, 2026. The agreement had allowed sales of Class A ordinary shares under an existing registration statement and prospectus supplement.

By the time of termination, Paranovus had sold 39,248,940 Class A ordinary shares, with a par value of $0.000012 each, for total gross proceeds of $30,967,191. The filing does not describe any replacement sales program or new capital-raising arrangement.

Paranovus Entertainment Technology Ltd. is establishing an at-the-market program to sell up to $194,999,999.75 of Class A Ordinary Shares under its Form F-3 shelf registration. The company appointed AC Sunshine Securities LLC as sales agent or principal for these sales.

The shares may be sold from time to time on the Nasdaq Capital Market or other trading markets in transactions deemed an at-the-market offering. Paranovus will pay the sales agent a 3.5% commission on the gross proceeds of shares it places. Both parties can terminate the sales agreement by written notice, and the arrangement includes customary representations, warranties, and indemnification provisions.

Paranovus Entertainment Technology Ltd. is offering up to $194,999,999.75 of Class A Ordinary Shares in an at-the-market offering through AC Sunshine Securities LLC as sales agent. The offering may be made from time to time under a Sales Agreement dated June 4, 2026.

Prior to the offering there were 1,536,122 Class A Ordinary Shares and 23,839 Class B Ordinary Shares outstanding. The prospectus illustrates an illustrative post-offering share count of 189,036,122 Class A Ordinary Shares assuming sales of the full aggregate amount at a $1.04 per share price. Net proceeds are to be used for potential strategic acquisitions, investment in operations and general corporate purposes.

Paranovus Entertainment Technology Ltd. entered into a financing arrangement by purchasing a secured convertible promissory note from Knox Golf Academy, Inc. with an aggregate principal amount of up to US$1,000,000. The note is funded in two tranches of US$500,000 each, with the second tranche at Paranovus’s sole discretion.

The outstanding principal bears interest at 10% per annum and has a term of twelve months from the first disbursement. Paranovus may elect to convert the note into Knox common stock using a formula tied to qualifying golf course renovation costs, up to a maximum of $10.0 million in such costs. The note is secured by substantially all Knox assets and all Knox equity interests, is guaranteed by Knox’s controlling shareholder who owns about 80% of Knox, and gives Paranovus the right to appoint one director to Knox’s board.

Paranovus Entertainment Technology Ltd. held an extraordinary shareholders’ meeting where investors approved several key capital structure changes. Shareholders representing 67.12% of the voting power formed a quorum, with Class A shares carrying one vote each and Class B shares carrying eighty votes each.

They approved a Capital Increase Proposal, a seventh amended and restated memorandum and articles of association, and a Share Consolidation Proposal. The board now has discretion, for up to two years, to implement one or more reverse share splits with a cumulative consolidation ratio of up to 1:5,000, with fractional shares rounded up to the next whole share.