Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 187

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 187
---
 Cayman
Islands law such transactions must be entered into bona fide in the best interests of the company and for a proper corporate purpose and
not with the effect of constituting a fraud on the minority shareholders.

Dissolution; Winding Up

Under the Delaware General Corporation Law, unless
the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting
power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the
corporation’s outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority
voting requirement in connection with dissolutions initiated by the board of directors.

Under the Cayman Islands Companies Act and our
articles, the Company may be wound up by a special resolution of our shareholders, or if our company is unable to pay its debts as they
fall due, by an ordinary resolution of our members. In addition, a company may be wound up by an order of the courts of the Cayman Islands.
The court has authority to order winding up in a number of specified circumstances including where it is, in the opinion of the court,
just and equitable to do so.

Variation of Rights of Shares

Under the Delaware General Corporation Law, a
corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of such class, unless the
certificate of incorporation provides otherwise. Under the Cayman Islands Companies Act and our articles, if our share capital is divided
into more than one class of shares, the rights attaching to any class of share (unless otherwise provided by the terms of issue of the
shares of that class) may be varied either with the consent in writing of the holders of not less than two-thirds of the issued shares
of that class, or with the sanction of a resolution passed by a majority of not less than two-thirds of the holders of shares of the class
present in person or by proxy at a separate general meeting of the holders of shares of that class.

Amendment of Governing Documents

Under the Delaware General Corporation Law, a
corporation’s certificate of incorporation may be amended only if adopted and declared advisable by the board of directors and approved
by a majority of the outstanding shares entitled to vote. The bylaws may be amended with the approval of a majority of the outstanding
shares entitled to vote. If so provided in the certificate of incorporation