Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 11

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 Company granted the underwriters a 30-day option to purchase an additional 337,500 shares of common stock at the initial public offering
price, less underwriting discounts and commissions, to cover over-allotments. On June 25, 2024, the Company issued an additional 337,500
shares of common stock to the underwriters of its IPO for gross proceeds of $1.4 million upon full exercise of the underwriters’
over-allotment option. Net proceeds received by the Company from its initial public offering, including the exercise of the over-allotment
option, were approximately $9.2 million. The Company also issued to The Benchmark Company, LLC (“Benchmark”), the representative
of the underwriters warrants to purchase 129,375 shares.

The unaudited condensed consolidated financial
statements include the financial statements of the Company and each of the following subsidiaries as of December 31, 2024.

  Name   Background   Ownership  FLY-E GROUP, INC.    ●    A Delaware corporation ●    Incorporated on November 1, 2022 ●    A holding company   Parent Company             FLY EV, INC.    ●    A Delaware corporation ●    Incorporated on November 1, 2022 ●    A holding Company   100% owned by Fly-E Group, Inc.             FLY E-BIKE, INC.    ●    A Delaware Company ●    Incorporated on August 22, 2022 ●    A holding Company   100% owned by Fly-E Group, Inc.             UNIVERSE KING CORP    ●    A New York corporation ●    Incorporated on November 19, 2018 ●    A retail store   100% owned by Fly E-Bike, Inc.             UFOTS CORP.    ●    A New York corporation ●    Incorporated on May 2, 2019 ●    A retail store   100% owned by Fly E-Bike, Inc. 

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  ARFY CORP.    ●    A New York corporation ●    Incorporated on April 29, 2020 ●    A retail store   100% owned by Fly E-Bike, Inc.             TKPGO CORP.