Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 168

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 168
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, Ctate owned 27 companies, each of which operated a Fly E -Bikestore. On September 12, 2022, Ctate and Fly E -Bike, which was a wholly -ownedsubsidiary of Ctate, entered into an Agreement and Plan of Merger, pursuant to which Ctate merged into and with Fly E -Bike, with Fly E -Bikebeing the surviving corporation (the “Merger”). As a result of the Merger, the original shareholders of Ctate became the stockholders of Fly E -Bikeand subsequently effectively controlled the combined entity. On December 21, 2022, Fly -EGroup and Fly E -Bikeentered into a Share Exchange Agreement, pursuant to which Fly -EGroup acquired all of the issued and outstanding shares of Fly E -Bikeby issuing its shares to the stockholders of Fly E -Bikeon a one -for -onebasis (the “Share Exchange”). As a result of the Share Exchange, Fly E -Bikebecame a wholly owned subsidiary of Fly -EGroup. As a result of the Merger and the Share Exchange, Fly E -Bikeand its subsidiaries are under common control of Fly -EGroup, resulting in the consolidation of Fly E -Bikeand its subsidiaries, which was accounted as a reorganization of entities under common control at carrying value. The unaudited condensed consolidated financial statements are prepared on the basis as if the reorganization became effective as of the beginning of the first period presented in the unaudited condensed consolidated financial statements of Fly -EGroup. On June 7, 2024, the Company issued 2,250,000shares of common stock, at a price of $4.00 per share in its initial public offering (“IPO”). The gross proceeds of the offering were $9.0 million, prior to deducting the underwriting discounts, commissions and offering expenses payable by the Company. In addition, the Company granted the underwriters a 30 -dayoption to purchase an additional 337,500shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over -allotments. On June 25, 2024, the Company issued an additional 337,500shares of common stock to the underwriters of its IPO for gross proceeds of $1.4 million upon full exercise of the underwriters’ over -allotmentoption. Net proceeds received by the Company from its initial