Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 29

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 29
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 or this offering, and you
should not rely on unauthorized information in making an investment decision.

Purchasers who purchase our securities in this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase without the benefit of a securities purchase agreement.

In
addition to rights and remedies available to all purchasers in this offering under federal securities and state law, the purchasers that
enter into a securities purchase agreement will also be able to bring claims for breach of contract against us. The ability to pursue
a claim for breach of contract provides those investors with the means to enforce the covenants uniquely available to them under the securities
purchase agreement including timely delivery of shares and indemnification for breach of contract.

<div align='center'>14

Use of Proceeds</div>

We estimate that we will receive net proceeds from the sale of securities
in this offering of approximately $7.0 million, based upon an assumed offering price of $0.22 per share of Common Stock and accompanying
Warrants and assuming maximum offering amount of approximately $8,000,000, after deducting estimated discounts and commissions to the
Placement Agent and the estimated offering expenses payable by us.

We intend to use the net proceeds from this offering as follows: (i) approximately $3.5 million for purchase of inventory and production costs of our vehicles; and (ii) 3.5 million for working capital.

Pending the use of proceeds
from this offering as described above, we plan to invest the net proceeds that we receive in this offering in short-term and intermediate-term
interest-bearing obligations, investment-grade securities, certificates of deposit or direct or guaranteed obligations of the U.S. government.

Our management will have broad
discretion in the application of the net proceeds from this offering and investors will be relying on the judgment of our management regarding
the application of the proceeds.

<div align='center'>Capitalization</div>

The following table sets forth
our cash and cash equivalents and capitalization as of December 31, 2024 on:

| ● | an actual basis; and |

| ● | on a pro forma adjusted basis to give effect the sale and issuance                                                                       
 of 36,363,636 shares of Common Stock in this offering at an assumed offering price of $0.22 per share, after deducting the discounts and 
 commissions to the Placement Agent and estimated offering expenses payable by us.                                                        |

The unaudited as adjusted information
below is prepared for illustrative purposes only and our capitalization following the