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Fly-E Group prices 28.6M shares at 24.28c in public offering

Fly-E Group (FLYE) announced the pricing of its public offering of 28,595,553 shares of common stock and 57,191,106 warrants to purchase Common Stock at a public offering price of $0.2428. Each share of Common Stock is being sold together with two Warrants, with each Warrant to purchase one share of Common Stock. Each Warrant is exercisable immediately with an exercise price equal to 120% of the offering price, and expires on the fifth anniversary of the issuance date, subject to certain adjustments. The offering is expected to close on or about June 3, 2025, subject to the satisfaction of customary closing conditions. Gross proceeds to the Company, before deducting placement agent’s fees and other offering expenses, are expected to be approximately $6.94 million. The Company intends to use the net proceeds of this offering for purchase of inventory and production costs of its vehicles and working capital. American Trust Investment Services is acting as exclusive placement agent in connection with the offering.

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