Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 194

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 194
---
 effected at such time and date, if at all, as determined by the board of directors within one year after the
conclusion of the special meeting.

39

On October 13, 2025, the board of directors approved a one-for-twenty
(1:20) reverse stock split of the Company’s issued and outstanding shares of common stock (the “2025 Second Reverse Stock
Split”). On October 23, 2025, the Company filed with the Secretary of State of the State of Delaware the Second Certificate of Amendment
to its Certificate of Incorporation (the “Certificate of Amendment”) to effect the 2025 Second Reverse Stock Split. The 2025
Second Reverse Stock Split became effective on November 4, 2025, and the Company’s common stock began trading on the Nasdaq Stock
Market on a split-adjusted basis on November 4, 2025.

After the 2025 Second Reverse Stock Split, every
twenty (20) shares of the Company’s issued and outstanding common stock have been automatically converted into one share of common
stock, without any change in the par value per share. In addition, (i) a proportionate adjustment has been made to the per share exercise
price and the number of shares issuable upon the exercise of all outstanding warrants to purchase shares of common stock, and (ii) the
number of shares reserved for issuance pursuant to the Company’s stock incentive plan has been reduced proportionately. Any fraction
of a share of common stock created as a result of the 2025 Second Reverse Stock Split was rounded up to the nearest whole share. The
Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol “FLYE.”

Unless otherwise noted, the share and per share
information in this report reflects the two 2025 Reverse Stock Split.

Registered Direct Offering and Private Placement
Offering 

On June 2, 2025, we closed our registered direct
offering of an aggregate of (i) 285,956 shares of our common stock, par value $0.01 and (ii) 571,912 warrants (the “Warrants”)
to purchase 571,912 shares of common stock at a combined purchase price per share and accompanying Warrants of $24.28, resulting
in net proceeds to us of $6.24 million after deducting placement agent fees and offering expenses. All of the shares (including shares
underlying the Warrants) were registered under