Fly-E Group raises $6.94M in registered direct offering of stock and warrants

Fly-E Group, Inc.

Gross proceeds $6.94M from sale of 28.6M shares at $0.2428/unit (each share with two warrants).
Warrants exercise price $0.2913 (120% of offering price), expire 5 years from issuance.
Net proceeds ~$6.24M after fees; use for inventory, production costs, and working capital.
180-day lock-up on officers, directors, and company after closing.
Placement agent: American Trust Investment Services; offering closed June 4, 2025.

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