Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 24

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 24
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 2025, the Company entered into a securities purchase agreement
with certain institutional investors named thereto, pursuant to which the Company agreed to issue and sell, in a registered direct offering
(the “Registered Direct Offering”): (i) 12,396,000 shares of Class A Ordinary Shares, at a purchase price of $0.098 per share;
and (ii) pre-funded warrants to purchase up to 18,216,246 Class A Ordinary Shares, at a purchase price of $$0.0.0979 per pre-funded warrant
(equal to the purchase price per Class A Ordinary Share, less the exercise price of $0.0001 per share).

The Registered Direct Offering closed on July 28, 2025. The Company
received approximately $3 million in gross proceeds from the Registered Direct Offering, before deducting placement agent fees and estimated
offering expenses. The Company intends to use the net proceeds from the Registered Direct Offering for working capital and general corporate
purposes.

Second Registered Direct Offering

On July 31, 2025, the Company entered into a second
letter of engagement (the “Second LOE”) with Craft pursuant to which the Company engaged Craft as the exclusive placement
agent in connection with the Second Registered Direct Offering. The terms of the Second LOE are substantially similar to the original
LOE entered into in relation to the earlier Registered Direct Offering closed on July 28, 2025. Under the Second LOE, the Placement Agent agreed
to use its reasonable best efforts to arrange for the sale of the 32,155,921 Class A Ordinary Shares and the Pre-Funded Warrants to purchase
up to 75,536,386 Class A Ordinary Shares. In addition, under the Second LOE the Company agreed to pay the Placement Agent a placement
agent fee in cash equal to six percent (6.0%) and a non-accountable expense allowance equal to one percent (1.0%) of the aggregate gross
proceeds raised from the sale. The Company also agreed to reimburse the Placement Agent at closing for legal and other expenses incurred
by them in connection with the Second Registered Direct Offering in an amount not to exceed $125,000. Furthermore, the Company has agreed
to sell to the Placement Agent warrants (the “Placement Agent Warrants”) to purchase up to 6% of the aggregate number of Class
A Ordinary Shares sold in the offering, including shares issued pursuant to the exercise of the over-allotment option, at a