Company: FLYE
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001213900-25-027258
Chunk: 9

Company: Fly-E Group, Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 9
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 of the common stock outstanding immediately prior to entering into an agreement in connection with any such non -publicoffering. Need to Raise Additional Capital We currently need to raise additional capital to fund our operations, implement our business strategy and enhance our overall capitalization. While we have not yet determined the particular terms for any potential financing, we are currently in discussions with certain parties in connection with such potential financing. Because we may seek additional capital in non -publicofferings that would result in the issuance of shares of our common stock equal to or in excess of 20% of the number of shares of our common outstanding immediately prior to entering into an agreement for such potential financing, and which would trigger the requirement to obtain stockholder approval, pursuant to Rule 5635(d), we are seeking stockholder approval now, so that we will be able to move quickly to take full advantage of any opportunities that may develop for us to raise such capital. We hereby submit this Proposal 1 to our stockholders for their approval of the potential issuance of shares of our common stock, or securities convertible into our common stock, in one or more non -publiccapital -raisingtransactions, or offerings, subject to the following limitations: •The aggregate number of shares of our common stock issued in the offerings will not exceed 120,000,000shares of our common stock, which may be issued in any combination of common stock and/or equity linked securities, subject to adjustment for any reverse stock split of our shares of common stock (a “Reverse Stock Split”) effected prior to the offerings; •The total aggregate consideration will not exceed $8 million; •The maximum discount at which securities will be offered (which may consist of a share of common stock and a warrant exercisable for the issuance of up to an additional share of common stock) will be equivalent to a discount of up to 50% below the market price of our common stock at the time of issuance in recognition of the historical volatility making the pricing discount of our stock required by investors at any particular time difficult, at this time, to predict. •Such offerings will occur, if at all, on or before April30, 2024, unless extended up to an additional 90 days in our sole discretion; and •Such other terms as the Board of Directors shall deem to be in the best interests of the Company and its stockholders, not inconsistent with the foregoing. Notwithstanding the foregoing, we will not sell securities to any officers, directors, or employees of the Company, or any consultants who perform services