Paranovus Entertainment Technology Files For Offering Of 60M Class A Ordinary Shares Offered By Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
Paranovus Entertainment Technology has filed with the SEC for an offering of 60 million Class A ordinary shares, which will be sold by existing shareholders.
September 13, 2024 | 8:18 pm
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Paranovus Entertainment Technology is conducting a share offering of 60 million Class A ordinary shares, which are being sold by existing shareholders. This could lead to a dilution of share value in the short term.
The offering of 60 million shares by existing shareholders could lead to a dilution of the stock, potentially decreasing its value in the short term. The market may react negatively to the increased supply of shares.
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