Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 164

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 164
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 to one of the vendors on behalf the Company. As of March 31, 2024, a total of $2,400,000 were transferred and recorded as capital contribution (see Note 9).

F-30 FLY-E GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 13 — RELATED PARTY TRANSACTIONS (cont.) (ii) On March 6, 2021, the Company and DGLG entered into an engagement letter, pursuant to which the Company engaged DGLG as a consultant to assist the Company in its IPO planning, financing and tax services. Mr. Guo, the Company’s CFO, is a partner at DGLG. Under the terms of the engagement agreement with DGLG, the Company has agreed to compensate DGLG for consulting services based on an hourly fee arrangement. DGLG’s consulting fees were $100,000 and $25,000 for the years ended March 31, 2024 and 2023, respectively. In addition, during the year ended March 31, 2024, the Company paid DGLG a total of $123,000 for tax services rendered by DGLG. 14 — SUBSEQUENT EVENTS The Company has evaluated subsequent events after March 31, 2024, up through June 27, 2024, the date at which the consolidated financial statements were issued, except for the event mentioned below the Company did not identify any subsequent events with material financial impact on the Company’s consolidated financial statements. On April 25, 2024, the Company paid off the loan from Sinoelite Corp of $100,000. On June 7, 2024, the Company completed its initial public offering and issued 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, the Company 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, the Company issued an additional 337,500shares of common stock to the underwriters for gross proceeds of $1.4 million upon full exercise of the underwriters’ over -allotmentoption. Net proceeds received by