Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 45

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 45
---
 the date of issuance was $274,472. The key inputs into the Black-Scholes Model variables were as follows at measurement date:

    June 7,
2024

    Stock price
     
    $
    400.00

    Risk-free interest rate

    4.46
    %
  
    Volatility

    56.52
    %
  
    Exercise price
     
    $
    400.00

    Dividend yield
     
    $
    —

The stock price and exercise prices stated herein
have been retroactively adjusted to reflect the reverse stock split that occurred in July 2025 and November 2025.

Registered Direct Offering Warrants

On June 4, 2025, the Company closed its public
offering of 285,956 shares of common stock and 571,912 warrants (“2025 Warrants”) to purchase common stock (including shares
of common stock underlying warrants) at a public offering price of $24.28. Each share of common stock was sold together with two 2025
Warrants, with each 2025 Warrants to purchase one share of common stock. Each 2025 Warrants is exercisable immediately upon issuance,
have an exercise price equal to $29.13 which is 120% of the offering price and will expire five years from the date of issuance.
Each 2025 Warrant is exercisable for one share of common stock, subject to adjustment in the event of stock dividends, stock splits, stock
combinations, reclassifications, reorganizations or similar events affecting the Company’s common stock. A holder may not exercise
any portion of a 2025 Warrant to the extent that the holder, together with its affiliates and any other person or entity acting as a group,
would own more than 4.99% of the Company’s outstanding shares of common stock after exercise, as such ownership percentage is determined
in accordance with the terms of the 2025 Warrants, except that upon notice from the holder to the Company, the holder may waive such limitation
up to a percentage, not in excess of 9.99%. The 2025 Warrants are also exercisable on a cashless basis. The 2025 Warrants are classified
as equity as they are indexed to the Company’s own stock and meet the criteria for equity classification according to ASC:815-40.
All the 2025 Warrants were exercised as of September 30, 202