Erayak Power Solution announces $3M registered direct offering

Erayak Power Solution (RAYA) Group announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of an aggregate of 30,612,246of the company’s Class A ordinary shares, par value $0.0001 per share at a purchase price of $0.098 per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for Shares, less the exercise price of $0.0001 per share. The aggregate gross proceeds to the company of this offering are expected to be approximately $3M. The transaction is expected to close on or about July 28, 2025, subject to the satisfaction of customary closing conditions. Craft Capital Management is acting as the sole placement agent for the offering.