Paranovus Entertainment receives bid deficiency notice from Nasdaq

Paranovus Entertainment received a notification letter from Nasdaq notifying the company that the minimum bid price per share for its Class A ordinary shares has been below $1.00 for a period of 30 consecutive business days and the company therefore no longer meets the minimum bid price requirements. The notification received has no immediate effect on the listing of the Company’s Class A ordinary shares on Nasdaq. The company has until January 13, 2025 to regain compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days.