NEW YORK, Dec. 22, 2025 /PRNewswire/ -- Paranovus Entertainment Technology Limited (NASDAQ: PAVS), announced today that the Company received a letter from the Nasdaq Stock Market LLC ("Nasdaq") on December 17, 2025, notifying the Company that the Nasdaq staff has determined to delist the Company's Class A ordinary shares from The Nasdaq Capital Market, because the Company failed to comply with the Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Rule").
As previously disclosed, on July 11, 2025, the Nasdaq staff notified the Company that the bid price of its listed Class A ordinary shares had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule 5550(a)(2). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until January 7, 2026, to regain compliance with the Rule.
The Nasdaq Staff has determined that as of December 15, 2025, the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days. Accordingly, the Company is subject to the provisions contemplated under the Rule. As a result, the Nasdaq Staff has determined to delist the Company's securities from The Nasdaq Capital Market.
The trading of the Company's Class A ordinary shares will be suspended at the opening of business on December 29, 2025 unless the Company duly requests an appeal of this determination.
The Company was provided until December 24, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.
The Company effectuated a reverse share split of its Class A ordinary shares at the ratio of 1:100 on December 18, 2025 in order to regain compliance with the aforementioned rules.
About Paranovus Entertainment Technology Limited
Paranovus Entertainment Technology Ltd. focuses e-commerce and TikTok-related e-commerce solutions through its subsidiaries. In March 2025, the Company completed the acquisition of the controlling equity interests of Bomie Wookoo Inc., a New York company that offers e-commerce solutions. As part of its strategic transformation, Paranovus has exited its legacy businesses, including the e-commerce, internet information, and advertising businesses in September 2023 and ceased its automobile sales business in July 2024.
For more information on our latest innovations and developments, visit https://www.pavs.ai/.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; the Company's future acquisition opportunities; the Company's ability to identify any acquisition opportunities that fit with our business strategies; the Company's ability to consummate an attractive acquisition and realize the benefits of such transaction; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
SOURCE Paranovus Entertainment Technology Ltd.
