Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 6

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 6
---
 of the Company’s Common Stock remained unchanged at $0.01 per share, and 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. The issued and outstanding Common Stock and preferred stock increased at a split ratio of 1 -for-110,000. The share number and related data in this prospectus has been updated to reflect the stock split referenced above. 1 IPO On June 7, 2024, we consummated our initial public officering (the “IPO”) and sold 2,250,000shares of Common Stock, at a price of $4.00 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, we granted the underwriters a 30 -dayoption to purchase an additional 337,500shares of Common Stock at the initial public offering price, less underwriting discounts and commissions, to cover over -allotments. On June 25, 2024, we sold an additional 337,500shares of Common Stock to the underwriters of our IPO for gross proceeds of $1.4 million upon full exercise of the underwriters’ over -allotmentoption. Net proceeds received by us from our initial public offering, including the exercise of the over -allotmentoption, were approximately $9.2 million. We also issued to The Benchmark Company, LLC (the “IPO Representative”), the representative of the IPO underwriters warrants to purchase 129,375shares. None of such warrants were exercised as of the date of this prospectus. Loan and Security Agreement On August 5, 2024, the Company, Fly E -Bike, Inc. (“Fly E -Bike”), a Delaware corporation, and Fly EV, Inc. (collectively with the Company and Fly E -Bike, the “Borrower”) entered into a loan and security agreement (the “Loan Agreement”) with Peapack -GladstoneBank (the “Lender”). Pursuant to the Loan Agreement, the Lender made available to the Borrower a $5 million revolving credit facility (the “Revolving Credit”), which the Borrower will use periodically for operating needs