Paranovus Entertainment Technology Ltd. has announced the signing of a significant new agreement with the chairperson of its board of directors, Ms. Minzhu Xu. Under this promissory note purchase agreement, finalized on June 26, 2025, Paranovus issued an 8% promissory note valued at $300,000 to Ms. Xu. The note is set to mature 12 months from its issuance date, with the option for the company to pre-pay before maturity. The funds from this transaction will be allocated for the company's general working capital needs. This strategic move received unanimous approval from the company's audit committee, which comprises only independent directors.
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