Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) closed down 3.55% at $0.30 on Monday and jumped 53.56% in after-hours trading to $0.46. The stock has fallen nearly 100% over the past year, from a 52-week high of $140 to a low of $0.24.

The move comes after the company confirmed in a Form 6-K filing with the U.S. Securities and Exchange Commission that it has ended its sales agreement with A.G.P/Alliance Global Partners, a regional investment and advisory firm registered with the SEC and a FINRA member since 1980, known for wealth management, institutional services, and investment banking capabilities.

Termination of Material Agreement

Paranovus had originally signed the agreement on October 28, 2025, allowing the company to sell Class A ordinary shares through an at-the-market offering under its Form F-3 registration statement.

On March 18, 2026, the company sent a termination notice to A.G.P./Alliance Global Partners, effective March 22, 2026. To date, Paranovus has sold 5,880,052 Class A shares, adjusted for the 1-for-100 reverse share split implemented in December 2025.

Company Overview

Paranovus develops and invests in entertainment and technology projects. CEO Xiaoyue Zhang signed the Form 6-K filing confirming the termination of the sales agreement.

Trading Metrics

Paranovus has a market capitalization of approximately $1.04 million. The stock's 52-week high is $140, and the 52-week low is $0.24.

Benzinga Edge Rankings indicate Paranovus stock falters on Short, Medium and Long Price trends.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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