Paranovus Entertainment Technology Limited Announces 1-For-100 Reverse Share Split

Core Viewpoint - Paranovus Entertainment Technology Limited will implement a reverse share split of its Class A ordinary shares at a ratio of 1-for-100, effective December 18, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 per share [1][2][4]. Share Split Details - The reverse share split will adjust the par value of Class A ordinary shares from $0.01 to $1.00 per share, and the number of outstanding shares will decrease from 350 million to approximately 3.5 million [2][3]. - Following the split, shares are expected to trade at approximately 100 times their pre-split price, although the company cannot guarantee this price will be maintained [2][3]. Shareholder Instructions - No fractional shares will be issued; fractional interests will be rounded up to the nearest whole share [3]. - VStock Transfer LLC will act as the exchange agent, providing instructions for shareholders regarding the exchange of pre-split share certificates [5]. Company Background - Paranovus focuses on e-commerce and TikTok-related e-commerce solutions, having exited its legacy businesses in September 2023 and ceased its automobile sales business in July 2024 [6]. - The company completed the acquisition of Bomie Wookoo Inc. in March 2025, enhancing its strategic transformation [6].