PAVS (NASDAQ:PAVS) (the "Company"), a consumer products and digital commerce solutions company, today announced that it and AC Sunshine Securities LLC ("ACSS") have mutually agreed to terminate the sales agreement entered into on June 4, 2026 (the "Sales Agreement"), and the related at-the-market ("ATM") offering arrangement, effective on June 14, 2026.

The termination of the Sales Agreement and the ATM offering was made by mutual agreement of the parties and was not the result of any disagreement between the Company and ACSS regarding the terms of the Sales Agreement, the Company's operations, financial disclosures, accounting policies, or practices. As a result of the termination, no further sales of the Company's Class A ordinary shares, par value $0.000012 each (the "Class A Ordinary Shares"), will be made pursuant to the ATM and the Sales Agreement. Prior to the termination, the Company had sold an aggregate of 39,248,940 Class A Ordinary Shares under the ATM program for gross proceeds of approximately US$30,967,191 before deducting fees.

The Company remains focused on executing its strategic initiatives and advancing its long-term business objectives.