Paranovus Reduces Class A Shares from 11.3M to 944.8K in 1-for-12 Split
Paranovus will implement a 1-for-12 reverse split on its Class A shares at market open March 31, 2026, reducing outstanding shares from 11,337,330 to about 944,778 and raising par value to $0.000012. Fractional shares will be rounded up, and shares remain listed under the existing symbol with a new CUSIP.
1. Approval and Effective Date
On March 18, 2026 the board approved a 1-for-12 reverse split of the Company’s Class A shares, which will become effective at the opening of Nasdaq trading on March 31, 2026. After the split, shares will continue trading under the existing symbol with a new CUSIP number.
2. Share Reduction and Par Value Adjustment
The reverse split will decrease issued and outstanding shares from 11,337,330 to approximately 944,778 and increase the par value per share from $0.000001 to $0.000012. This adjustment is designed to raise the per-share trading price by roughly 12-fold.
3. Fractional Shares and Exchange Process
No fractional shares will be issued; all fractional interests will be rounded up to the nearest whole share. VStock Transfer LLC will serve as exchange and paying agent, providing instructions for shareholders with certificates and book-entry positions.