Company: FLYE
Filing Date: 2025-02-11
Form Type: PRE 14A
Source: 0001213900-25-012288
Chunk: 27

Company: Fly-E Group, Inc.
Filing Date: 2025-02-11
Form: PRE 14A
Chunk 27
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 with regard to the proposed Reverse Split. Reservation of Right to Abandon the Reverse Split The Board believes that stockholder adoption and approval of the Reverse Split at a ratio of between 1 -for-2to 1 -for-15is in the best interests of our stockholders. If our stockholders approve this Reverse Split Proposal, the Board will implement the Reverse Split only upon a determination that the Reverse Split is in the best interests of the stockholders at that time. The Board reserves the right to abandon the Reverse Split Proposal without further action by our stockholders at any time before the Reverse Split Effective Time, even if stockholders approve the Reverse Split Amendment at the Special Meeting. By voting in favor of the Reverse Split Proposal, stockholders are also expressly authorizing the Board to determine not to proceed with, and abandon, the Reverse Split Proposal if it should so decide. Interests of Directors and Executive Officers Certain of our officers and directors have an interest in the Reverse Split Proposal as a result of their ownership of shares of common stock. However, we do not believe that our officers or directors have interests in the Reverse Split Proposal that are different than or greater than those of any of our other stockholders. Required Vote Approval of the Reverse Split Proposal requires the affirmative vote of the holders of a majority of the outstanding shares of our common stock. A failure to submit a proxy card or vote at the Special Meeting or an abstention will have the same effect as a vote “AGAINST” this proposal. Recommendation of the Board The Board recommends that stockholders vote “FOR” the approval of the Reverse Split Proposal. 16 THE AUTHORIZED SHARES PROPOSAL Background Our Board has approved and adopted, and is hereby soliciting stockholder approval of, the Authorized Shares Amendment, in the form attached to this proxy statement as Appendix C. Our Board has determined that the Authorized Shares Amendment is advisable and in the best interests of the Company and our stockholders. The Authorized Shares Amendment does not contemplate any change to the number of authorized shares of our preferred stock. Reasons for the Authorized Shares Amendment Our Board believes that it is important to have available a sufficient number of authorized shares of our common stock to provide us with flexibility to support corporate purposes as needs arise. For example, as we evaluate the future financing needs of our business, we may use a portion of the additional authorized shares to raise capital by issuing shares of our common stock, issuing shares of our preferred stock that are convertible into shares of our common stock and/or issuing warrants that are exercisable for shares