Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 23

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 23
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 on September 30, 2025 (U.S. Eastern Time).

<div align='center'>S-3</div>

Follow-on Offerings

Private Placement

On May 20, 2024, the Company into securities purchase
agreements with certain purchasers in connection with the issuance and sale (the “Private Placement”) of (i) an aggregate
of 16,000,000 Class A ordinary shares, par value US$0.0001 per share, of the Company and (ii) warrants to purchase an aggregate of 32,000,000
Class A Ordinary Shares at an exercise price of $0.50 per share, subject to adjustment as provided therein, for an aggregate of purchase
price of $8,000,000. The Warrants will become exercisable for cash or on a cashless basis upon issuance and will expire three years after
the issuance date. Subsequently, all the shares and warrant share were issued, and the resulting Class A ordinary shares had been registered
on a resale registration statement on form F-3, which was declared effective on August 9, 2024.

Registered Direct Offering

On July 22, 2025, the Company entered into a letter of engagement (the
“LOE”) with Craft Capital Management LLC (“Craft”
or the “Placement Agent”), pursuant to which the Company engaged Craft as the
exclusive placement agent in connection with the Registered Direct Offering. The Placement Agent agreed to use its reasonable best efforts
to arrange for the sale of the 12,396,000 Class A Ordinary Shares and the pre-funded warrants to purchase up to 18,216,246 Class A Ordinary
Shares. In addition, under the LOE the Company agreed to pay the Placement Agent a placement agent fee in cash equal to six percent (6.0%)
and a non-accountable expense allowance equal to one percent (1.0%) of the aggregate gross proceeds raised from the sale. The Company
also agreed to reimburse the Placement Agent at closing for legal and other expenses incurred by them in connection with the Registered
Direct Offering in an amount not to exceed $125,000. Furthermore, the Company agreed to sell to the Placement Agent warrants to purchase
up to 6% of the aggregate number of Class A Ordinary Shares sold in the offering, including shares issued pursuant to the exercise of
the over-allotment option, at a price equal to 125% of the price of our Class A Ordinary Shares offered.

On July 25,