Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 47

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 47
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:--------------------|-----------:|:----|--------:|:--|:----|:----------|-------:|
| Existing stockholders      |     |       24,587,500 |     |    46.2 | % |     | $                   | 10,989,899 |     |    61.7 | % |     | $         | 0.4470 |
| Investors in this offering |     |       28,595,553 |     |    53.8 | % |     |                     |  6,943,000 |     |    38.7 | % |     |           | 0.2428 |
| Total                      |     |       53,183,053 |     |   100.0 | % |     | $                   | 17,932,899 |     |   100.0 | % |     | $         | 0.3372 |

The above discussion is based on 24,587,500shares of our Common Stock outstanding as of December 31, 2024 and excludes, as of that date, the following: •129,375shares of Common Stock issuable upon the exercise of the IPO Representative’s Warrants; •57,191,106shares of Common Stock underlying the Warrants to be issued in connection with this offering; and •3,700,000shares of Common Stock reserved for future grants of equity -basedawards under our equity incentive plan.

31 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERAT IONS The following discussion of our financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto included in this prospectus. The following discussion contains forward -looking statements. Actual results could differ materially from the results discussed in the forward -looking statements. See “Risk Factors” and “Cautionary Note Regarding Forward -Looking Statements”. Overview We are an EV company that is principally engaged in designing, installing and selling E -motorcycles, E -bikes, E -scootersand related accessories under the brand “Fly E -Bike.” At Fly E -Bike, our commitment is to encourage people to incorporate eco -friendlytransportation into their active lifestyles, ultimately contributing towards building a more environmentally friendly future. Fly E -Bikewas established in 2018 with its first store opened in New York. Our business has grown rapidly since then and we are now