Company: FLYE
Filing Date: 2025-06-05
Form Type: 8-K
Source: 0001213900-25-051577
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Company: Fly-E Group, Inc.
Filing Date: 2025-06-05
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive
Agreement.

On
June 2, 2025, Fly-E Group, Inc., a Delaware corporation (the “ Company”) entered into a Securities Purchase Agreement (the
“ Purchase Agreement”) with purchasers named therein (the “ Purchasers”) for the purpose of raising approximately
$6.94 million in gross proceeds for the Company. Pursuant to the terms of the Purchase Agreement, the Company agreed to sell, in a registered
direct offering, an aggregate of (i) 28,595,553 shares (the “ Shares”) of the Company’s common stock, par value $0.01
(“ Common Stock”) and (ii) 57,191,106 warrants to purchase 57,191,106 shares of Common Stock (the “ Warrants” and
such shares of Common Stock issuable upon exercise of the Warrants, the “ Warrant Shares”). Each share of Common Stock is being
sold together with two Warrants, with each Warrant to purchase one share of Common Stock. The combined purchase price per Share
and accompanying Warrants is $0.2428.

The
Warrants are exercisable at an exercise price of $0.2913 per share immediately upon issuance, and will expire five years following the
date of issuance.

On
June 4, 2025, the Company closed the public offering of these securities for gross proceeds of approximately $6.94 million (the “ Offering”).

American
Trust Investment Services, Inc. (“ ATIS”) acted as the exclusive placement agent for the Offering pursuant to the Placement
Agency Agreement, dated April 22, 2025, as amended. As compensation for such placement agent services, the Company paid ATIS an aggregate
cash fee equal to 7.0% of the gross proceeds received by the Company from the Offering, plus a non-accountable expense allowance equal
to 1.0% of the gross proceeds received by the Company, and out-of-pocket expenses of $150,000.

The
net proceeds to the Company from the Offering, after deducting the Placement Agent’s fees and expenses and the Company’s offering
expenses is approximately $6.24 million. The Company intends to use the net proceeds for purchase of inventory and production costs of
vehicles and working capital.

The Offering was pursuant
to a Registration Statement on Form S-1, as amended (File No. 333-286678), which was declared effective by the