Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 38

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 of directors approved a 1-for-110,000 stock
split of the Company’s capital stock. The stock split became effective on April 2, 2024. The par value of the Company’s common
stock remained unchanged at $0.01 per share, and the number of authorized shares of the Company’s capital stock was increased from
440 to 48,400,000, with the number of authorized shares of common stock and preferred stock being increased from 400 to 44,000,000 and
from 40 to 4,400,000, respectively. On June 7, 2024, the Company amended and restated the certificate of incorporation to authorize the
Company to issue up to 110,000,000 shares. The par value of the Company’s common stock remained unchanged at $0.01 per share, and
the number of authorized shares of the Company’s capital stock increased to 110,000,000, with the number of authorized shares of
common stock and preferred stock being increased 100,000,000 and 10,000,000, respectively. On March 10, 2025, the Company amended and
restated the certificate of incorporation to authorize the Company to increase the authorized shares of common stock of the Company from
100,000,000 shares to 300,000,000 shares. The par value of the Company’s common stock remained unchanged at $0.01 per share.

On June 7, 2024, the Company completed its initial public offering and issued 450,000 shares
of common stock, at a price of $20.00 per share. The gross proceeds of the offering were $9.0 million, prior to deducting the underwriting
discounts, commissions and offering expenses payable by the Company. In addition, the Company granted the underwriters a 30-day option
to purchase an additional 67,500 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 67,500 shares of common stock to the underwriters for gross
proceeds of $1.4 million upon full exercise of the underwriters’ over-allotment option. Net proceeds received by the Company from
the initial public offering, including the exercise of over-allotment option, were approximately $9.2 million.

2025 Reverse Stock Split

On July 3,