Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 52

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 52
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. For a further description of the dilution that investors in this offering may experience, see “Dilution.” In addition, to the extent that outstanding stock options or warrants have been or may be exercised or other shares issued, you may experience further dilution.

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The Class A Ordinary Shares offered hereby will be sold in an “at the market offering”, and investors who buy shares at different times will likely pay different prices.

Investors who purchase shares in this offering at
different times will likely pay different prices, and therefore may experience different levels of dilution and different outcomes in
their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares sold in
this offering, and there is no minimum or maximum sales price. Investors may experience a decline in the value of their shares as a result
of share sales made at prices lower than the prices they paid.

The actual number of shares we will issue under the Sales Agreement, at any one time or in total, is uncertain.

Subject to certain limitations in the Sales Agreement
and compliance with applicable law, we have the discretion to deliver instruction to the Sales Agent to sell our ordinary shares at any
time throughout the term of the Sales Agreement. The number of shares that are sold through the Sales Agent after our instruction will
fluctuate based on a number of factors, including the market price of our Class A Ordinary Shares during the sales period, the limits
we set with the Sales Agent in any instruction to sell shares, and the demand for our ordinary shares during the sales period. Because
the price per share of each share sold will fluctuate during this offering, it is not currently possible to predict the number of shares
that will be sold or the gross proceeds to be raised in connection with those sales.

Additional offerings in the future may dilute then existing shareholders’ percentage ownership of our company.

Our plans and expectations may require us to raise
additional capital in the near future through the sale of ordinary shares or securities convertible or exercisable for ordinary shares,
including convertible preferred shares, convertible notes, stock options or warrants. The issuance of additional securities in the future
will dilute the percentage ownership of then existing shareholders. Assuming the sale of $10,000,000 of our Class A Ordinary shares at
a price of $0.061 per share, which was the closing price of our ordinary shares on The Nasdaq Capital Market on September 23, 202