Fly-E Group, Inc. Announces Full Exercise and Closing of Over-Allotment Option
27 Juin 2024 - 10:40PM
Fly-E Group, Inc. (Nasdaq: FLYE) (“FLYE” or the “Company”) today
announced the underwriter of its initial public offering (the
"Offering") has exercised its over-allotment option in full to
purchase an additional 337,500 shares of FLYE’s common stock at the
public offering price of US$4.00 per share. After giving effect to
the full exercise of the over-allotment option, FLYE sold an
aggregate 2,587,500 shares of its common stock for aggregate gross
proceeds of US$10.35 million, before deducting underwriter
discounts, commissions and other related expenses. FLYE’s shares of
common stock began trading on the Nasdaq Capital Market under the
symbol “FLYE” on June 6, 2024.
Proceeds from the Offering will be used
primarily to cover the purchase of inventory and production costs
of FLYE’s vehicles, the expansion of its retail stores, its
technology, research and development initiatives, and for general
corporate purposes.
The Benchmark Company, LLC (“Benchmark”) was the
sole book-running manager for the offering. Hogan Lovells US LLP
acted as counsel to FLYE and Lucosky Brookman LLP acted as counsel
to Benchmark in connection with the Offering.
A registration statement relating to the shares
of common stock of the Company was filed with the U.S. Securities
and Exchange Commission and became effective on May 14, 2024. The
Offering was made only by means of a prospectus. Copies of the
final prospectus may be obtained from The Benchmark Company, LLC,
150 East 58th Street, 17th Floor, New York, NY 10155, by telephone:
(212) 312-6700, or by email
at prospectus@benchmarkcompany.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities of
the Company, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Fly-E Group, Inc.
Fly-E Group, Inc. is an electric vehicle company
that is principally engaged in designing, installing and selling
smart electric motorcycles, electric bikes, electric scooters and
related accessories under the brand “Fly E-Bike.” The Company’s
commitment is to encourage people to incorporate eco-friendly
transportation into their active lifestyles, ultimately
contributing towards building a more environmentally friendly
future. For more information, please visit the Company’s website:
https://investors.flyebike.com.
Forward Looking Statements
This press release contains “forward-looking
statements” within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Forward-looking statements mean
statements related to future events, which may impact the Company’s
expected future business and financial performance, including those
with respect to the Offering. No assurance can be given that the
net proceeds of the Offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement and prospectus for the Offering filed with the SEC.
Copies are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
For more information, please contact:
Fly-E Group, Inc.Investor Relations
DepartmentEmail: ir@flyebike.com
Ascent Investor Relations LLCTina XiaoPhone:
+1-646-932-7242Email: investors@ascent-ir.com
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