Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 196

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 196
---
 to the stated maturity (or, in any such case, the manner in which such  
 amount deemed to be the principal amount shall be determined).                                                                          |

Unless otherwise specified in the applicable prospectus
supplement, the debt securities will not be listed on any securities exchange and will be issued in fully-registered form without coupons.

Debt securities may be sold at a substantial discount
below their stated principal amount, bearing no interest or interest at a rate which at the time of issuance is below market rates. The
applicable prospectus supplement will describe the federal income tax consequences and special considerations applicable to any such debt
securities. The debt securities may also be issued as indexed securities or securities denominated in foreign currencies, currency units
or composite currencies, as described in more detail in the prospectus supplement relating to any of the particular debt securities. The
prospectus supplement relating to specific debt securities will also describe any special considerations and certain additional tax considerations
applicable to such debt securities.

Conversion of Debt Securities

The debt securities may entitle the holder to
purchase, in exchange for the extinguishment of debt, an amount of securities at a conversion price that will be stated in the debt securities.
If such debt securities are convertible, unless otherwise specified in a prospectus supplement, the debt securities will be convertible
at any time up to the close of business on the expiration date set forth in the terms of such debt securities. After the close of business
on the expiration date, the debt securities not converted will be paid in accordance with their terms.

Subordination

The prospectus supplement relating to any offering
of subordinated debt securities will describe the specific subordination provisions. However, unless otherwise noted in the prospectus
supplement, subordinated debt securities will be subordinate and junior in right of payment to any existing senior indebtedness.

Unless otherwise specified in the applicable prospectus
supplement, under the subordinated indenture, “senior indebtedness” means all amounts due on obligations in connection with
any of the following, whether outstanding at the date of execution of the subordinated indenture, or thereafter incurred or created:

| ● | the                                                                                                                                    
 principal of (and premium, if any) and interest due on our indebtedness for borrowed money and indebtedness evidenced by bonds, notes, 
 debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);                               |

| ● | all                                                                                                                                 
 of our capital lease obligations or attributable debt (as defined in the indentures) in