Company: FLYE
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001213900-25-016092
Chunk: 19

Company: Fly-E Group, Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 19
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 Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until March 31, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of our common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during this 180 day period. If the Company is not in compliance by March 31, 2025, the Company may qualify for a second 180 calendar day compliance period if the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement. Our Board believes that effecting the Reverse Split would, among other things, help the Company to (1) increase the per share price of our common stock, (2) maintain the listing of our common stock on Nasdaq, and (3) potentially improve the marketability and liquidity of our common stock. Increase the Per -Share Price of our Common Stock.The primary purpose for effecting the Reverse Split, should the Board choose to effect it, would be to increase the per share price of our common stock. In determining to seek authorization for the Reverse Split Proposal, the Board considered that, by combining a number of pre -splitshares into one share of common stock, the market price of a post -splitshare is generally greater than the market price of a pre -splitshare. However, we cannot assure you that the Reverse Split will increase the per share price of our common stock or that any such increase will be proportional to the Reverse Split ratio (see “ — Certain Risks Associated with the Reverse Split”). Maintain Listing on Nasdaq.Our Board has considered the potential harm to the Company and its stockholders should Nasdaq delist our common stock from The Nasdaq Capital Market. Delisting our common stock could adversely affect the liquidity of our common stock because alternatives, such as the OTC Markets, are generally considered to be less efficient markets. An investor likely would find it less convenient to sell, or to obtain accurate quotations in seeking to buy, our common stock on an over -the -countermarket. Many investors likely would not buy 11 or sell our common stock due to difficulty in accessing over -the -countermarkets, policies preventing them from trading in securities not listed on a national exchange or other reasons. Our Board believes that the Reverse Split is an effective means for the Company to maintain compliance with