Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 32

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 32
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 the price to be paid by new investors at the offering price.

|                             |     | Shares Purchased 
 Number           |            |     | Percent |       |   |     | Total Consideration 
 Amount              |            |     | Percent |       |   |     | Average Price 
 Per Share     |      |
|:----------------------------|:----|:-----------------|-----------:|:----|:--------|------:|:--|:----|:--------------------|-----------:|:----|:--------|------:|:--|:----|:--------------|-----:|
| Existing stockholders       |     |                  | 24,587,500 |     |         |  40.3 | % |     | $                   | 10,989,899 |     |         |  57.9 | % |     | $             | 0.45 |
| Investors  in this offering |     |                  | 36,363,636 |     |         |  59.7 | % |     |                     |  8,000,000 |     |         |  42.1 | % |     |               | 0.22 |
| Total                       |     |                  | 60,951,136 |     |         | 100.0 | % |     | $                   | 18,989,899 |     |         | 100.0 | % |     | $             | 0.31 |

The above discussion is based
on 24,587,500 shares of our Common Stock outstanding as of December 31, 2024 and excludes, as of that date, the following:

| ● | 129,375 shares of Common Stock issuable upon the exercise of the IPO Representative’s Warrants; |
| ● | 72,727,272 shares of Common Stock underlying the Warrants to be issued                          
 in connection with this offering; and                                                           |
| ● | 3,700,000 shares of Common Stock reserved for future grants of equity-based                     
 awards under our equity incentive plan.                                                         |

<div align='center'>PRINCIPAL STOCKHOLDERS</div>

The following table sets
forth information, as of April 17, 2025, regarding beneficial ownership of our Common Stock by:

| ● | each of our directors and executive officers; |

| ● | all directors and executive officers as a group; and |

| ● | each person, or group of affiliated persons, known