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.