Paranovus Entertainment Signs $300,000 Promissory Note Agreement with Board Chairperson

Reuters07-01

Paranovus Entertainment Signs $300,000 Promissory Note Agreement with Board Chairperson

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.

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: 0001929980-25-000523), on June 30, 2025, and is solely responsible for the information contained therein.

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