Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 193

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 193
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 price, less underwriting discounts and commissions, to cover over -allotments. On June 25, 2024, the Company issued an additional 337,500shares of common stock to the underwriters for gross proceeds of $1.4 million upon full exercise of the underwriters’ over -allotmentoption. Net proceeds received by the Company from the initial public offering, including the exercise of over -allotmentoption, were approximately $9.2 million. Upon the closing of IPO offering in June 2024, the Company issued to Benchmark the representative of the underwriters warrants to purchase 129,375shares of common stock. The Representative’s Warrants have an exercise price equal to $4.00 per share and are exercisable until the date on June 7, 2029, after the date of commencement on December 7, 2024. The Representative’s Warrants are also exercisable on a cashless basis. As the Representative’s Warrants are considered indexed to the Company’s own stock and meet the criteria for equity classification according to ASC:815 -40, the Representative’s Warrants are classified as equity. None of the Representative’s Warrants were exercised as of December 31, 2024. The fair value of the warrant, using the Black -ScholesModel on the date of issuance was $274,472. The key inputs into the Black -ScholesModel variables were as follows at measurement date:

|                         |     | June 7, 
 2024    |       |   |
|:------------------------|:----|:--------|------:|:--|
| Stock price             |     | $       |  4.00 |   |
| Risk-free interest rate |     |         |  4.46 | % |
| Volatility              |     |         | 56.52 | % |
| Exercise price          |     | $       |  4.00 |   |
| Dividend yield          |     | $       |     — |   |

The following table summarizes the Company’s activities and status of the Representative’s Warrants:

| Outstanding as of March 31, 2024    |     | Number of 
   Warrant 
         — |     | Weighted       
 Average        
 Exercise Price |    — |     |     Weighted 
      Average 
    Remaining 
 Term (Years) 
            — |
|:------------------------------------|:----|----------:|:----|:---------------