Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 48

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 48
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 discounts and commissions to the Placement Agent and the estimated offering expenses payable by us. We intend to use the net proceeds from this offering as follows: (i) approximately $3.5 million for purchase of inventory and production costs of our vehicles; and (ii) 3.5 million for working capital. Pending the use of proceeds from this offering as described above, we plan to invest the net proceeds that we receive in this offering in short-term and intermediate-term interest-bearing obligations, investment-grade securities, certificates of deposit or direct or guaranteed obligations of the U.S. government. Our management will have broad discretion in the application of the net proceeds from this offering and investors will be relying on the judgment of our management regarding the application of the proceeds. Capitalization The following table sets forth our cash and cash equivalents and capitalization as of December 31, 2024 on:

| ● | an actual basis; and |

| ● | on a pro forma adjusted basis to give effect the sale and issuance                                                                       
 of 38,095,238 shares of Common Stock in this offering at an assumed offering price of $0.21 per share, after deducting the discounts and 
 commissions to the Placement Agent and estimated offering expenses payable by us.                                                        |

The unaudited as adjusted information below is prepared for illustrative purposes only and our capitalization following the completion of this offering will be adjusted based on the actual offering price and other terms of this offering determined at pricing. You should read the following table in conjunction with “ Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the historical financial statements and related notes.

|                                                                                                            |     | At December 31, 2024 |            |   |     |           |            |   |
|:-----------------------------------------------------------------------------------------------------------|:----|:---------------------|-----------:|:--|:----|:----------|-----------:|:--|
|                                                                                                            |     | Actual               |            |   |     | Pro Forma |            |   |
| Cash and cash equivalents                                                                                  |     | $                    |  1,367,248 |   |     |           |  8,398,623 |   |
| Debt:                                                                                                      |     |                      |            |   |     |           |            |   |
| Current portion of long-term loan payables                                                                 |     |                      |     99,079 |   |     |           |     99,079 |   |
| Short-term loan payables                                                                                   |     |