Paranovus Entertainment Technology Ltd. has announced a new debt offering by signing a promissory note purchase agreement with Ms. Minzhu Xu, the chairperson of the company's board of directors. On September 18, 2025, the company issued an 8% promissory note with a principal amount of $250,000. The note is set to mature 12 months after its issuance and includes the option for the company to pre-pay the amount in part or in whole before the maturity date. The proceeds from this note offering will be utilized for the general working capital purposes of the company. This transaction was unanimously approved by the audit committee of the company's board, which consists solely of independent directors.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paranovus Entertainment Technology Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001929980-25-000650), on September 22, 2025, and is solely responsible for the information contained therein.