Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 9

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 9
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, 28 E-bike products and 37 E-scooter products.

We are currently in the process of developing a Fly E-Bike app, which
is a management service mobile software for our EVs, enabling customers to purchase bikes, locate company stores, schedule bike repairs,
and more. We aim to design an app that will bring users a comprehensive intelligent experience to create a safer and more satisfying riding
life. The development of the app is still in its preliminary stage. We have launched a testing version of the app, which is currently
unavailable to our customers. We are also in the process of developing the enterprise resource planning system (“ERP system”).
We have developed a mobile phone application for our renal services, the GO FLY APP, which was launched in the rental business on September
5, 2024.

We source a significant portion
of our vehicle components from China and the United States, and then assemble them into our vehicles in a facility located in Maspeth,
New York.

Recent Developments

Reverse Split

In
April 2024, we effected a stock split of our authorized and all issued and outstanding shares of our Common Stock and preferred stock
at a split ratio of 1-for-110,000, where the par value of the Company’s Common Stock remained unchanged at $0.01 per share, and
number of authorized shares of the Company’s capital stock was increased from 440 to 48,400,000, with the number of authorized shares
of Common Stock and preferred stock being increased from 400 to 44,000,000 and from 40 to 4,400,000, respectively. The issued and outstanding
Common Stock and preferred stock increased at a split ratio of 1-for-110,000. The share number and related data in this prospectus has
been updated to reflect the stock split referenced above.

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IPO

On
June 7, 2024, we consummated our initial public officering (the “IPO”) and sold 2,250,000 shares of Common Stock, at a price
of $4.00 per share. The gross proceeds of the offering were $9.0 million, prior to deducting the underwriting discounts, commissions and
offering expenses payable by the Company. In addition, we granted the underwriters a 30-day option to purchase an additional 337,500 shares
of Common Stock at the initial public offering price