Paranovus closes USD 33 million Heyviva brand asset purchase from Jabanero

• Paranovus Entertainment Technology agreed to buy the Heyviva athletic wear brand and related business assets from Jabanero for USD 33 million cash.
• Transaction closed on Aug. 5, 2026, shifting from a previously disclosed plan to acquire equity in Jabanero.
• Consideration split into four tranches, starting with USD 16.5 million at signing, then payments tied to transfers of domains, U.S. trademarks, remaining assets.
• Seller retained EU and UK Heyviva trademarks; Paranovus received a seven-year right of first refusal to acquire them.
• Deal rationale centers on combining the brand with Paranovus’s social commerce capabilities to support longer-term growth.

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: 0001929980-26-000415), on August 05, 2026, and is solely responsible for the information contained therein.