PARANOVUS ENT.TECH.DL 1,-

Paranovus Entertainment Technologie reported to the SEC that it has completed the acquisition of sports apparel brand Heyviva from Jabanero Inc. The transaction is an asset purchase valued at $33 million, paid in staggered cash payments; acquired assets include U.S. trademark rights, customer data, inventory and social media accounts, while EU/UK trademark rights remain with Jabanero. The company sees synergies with its social-commerce and TikTok e-commerce activities. The stock rose about 65.5% in premarket trading, aided by an ultra-low float and high short-interest ratios, while the broader market offered little support. » More on de.investing.com