Paranovus Plans 1-for-100 Reverse Split, Reducing Outstanding Shares by 99%
PAVS•Paranovus Entertainment Technology will implement a 1-for-100 reverse split on June 29, 2026, reducing its Class A shares from 85,685,063 to approximately 856,851 and setting a new par value of $0.0012 per share. Post-split shares will trade on Nasdaq under the same symbol with a new CUSIP G4289N155.
1. Reverse Share Split Details
The board approved a 1-for-100 reverse split reducing Class A Ordinary Shares from 85,685,063 to approximately 856,851 shares. This split ratio was set on May 14, 2026 and will become effective at the opening of trading on June 29, 2026.
2. Trading and CUSIP Changes
Post-split shares will trade on The Nasdaq Capital Market under the existing symbol with a new CUSIP number G4289N155. The split is expected to multiply the share price by roughly 100, though the company makes no assurances on post-split price maintenance.
3. Fractional Share Treatment
No fractional shares will be issued; all fractional interests will be rounded upward to the nearest whole Class A share. Shareholders holding certificates will receive instructions from the exchange agent for exchanging pre-split certificates.
4. Company Background
Paranovus Entertainment Technology exited legacy e-commerce and auto sales businesses by July 2024 and acquired controlling interests in Bomie Wookoo Inc. in March 2025 as part of its strategic pivot toward consumer products and digital commerce solutions.
