Fly-E Group (FLYE) Registration Filing summary

Company overview and business model

• Designs, sells, and rents smart electric motorcycles, bikes, and scooters under the Fly E-Bike brand, targeting eco-friendly urban transportation and delivery markets.

• Operates 36 retail stores in the US and Canada, with a strong presence among food delivery workers in New York City.

• Offers a diversified product portfolio (25 E-motorcycles, 28 E-bikes, 37 E-scooters) and plans to expand into South America and Europe.

• Sources components from China and the US, assembling vehicles in New York.

• Developing proprietary apps for vehicle management and rental services, with a rental program launched in NYC and LA.

Financial performance and metrics

• Net proceeds from the IPO in June 2024 were approximately $9.2 million, with an additional $5 million revolving credit facility secured in August 2024.

• As of December 31, 2024, cash and cash equivalents were $1.37 million (actual) and $8.4 million (pro forma post-offering).

• Total debt as of December 31, 2024, was $7.1 million.

• Pro forma stockholders' equity post-offering is projected at $20.2 million.

• Immediate dilution to new investors is estimated at $0.10 per share, with an average price per share for new investors at $0.22.

Use of proceeds and capital allocation

• Plans to allocate $3.5 million to inventory and production costs, and $3.5 million to working capital.

• Proceeds may be invested in short- and intermediate-term interest-bearing obligations pending use.

• Management retains broad discretion over the use of funds.