Fly-E Group Inc. Enhances Growth via Funding
Firm Supports Capital Raise to Advance Expansion in Electric Mobility
American Trust Investment Services, Inc. (ATIS) proudly announces its role as the exclusive placement agent for Fly-E Group Inc. (NASDAQ: FLYE) in a significant follow-on public offering.
This offering includes 28,595,553 shares of common stock, together with 57,191,106 warrants, with a public offering price set at $0.2428 per share. The expected gross proceeds are approximately $6.94 million, before deducting placement agent fees and expenses associated with the offering. Each share will be sold alongside two five-year warrants, which can be exercised immediately at 120% of the offering price.
Operating under the Fly E-Bike brand, Fly-E Group Inc. is a U.S.-based electric vehicle company focused on designing and retailing smart electric motorcycles, e-bikes, scooters, and related accessories. Currently, the company runs over 30 retail stores nationwide and is eager to tap into new international markets.
The proceeds from this funding initiative are earmarked for inventory purchases, vehicle production, and enhancing general corporate functions, as detailed in the company’s registration statement.
James Dever, the Chief Executive Officer of ATIS, expressed enthusiasm about this venture, stating, "This is an exciting and important transaction for Fly-E. We're proud to support their mission and growth strategy as they scale operations and establish market leadership in sustainable mobility." He went on to mention the firm’s commitment, saying, "This offering reflects our continued focus on partnering with founder-driven, high-growth companies." Ian Lippy, the Chief Operating Officer of ATIS, further highlighted the firm’s anticipation for Fly-E’s rapid expansion fueled by this new influx of capital and dedicated investors.
About American Trust Investment Services, Inc.
American Trust Investment Services, Inc. (ATIS) positions itself as a prominent investment bank and financial services firm, offering tailored capital markets solutions to both emerging and established enterprises. Headquartered in Chicago and boasting offices across the country, ATIS delivers a comprehensive suite of investment banking, brokerage, and advisory services.
Known for its proactive engagement, the firm has a proven record of navigating businesses through intricate financial transactions with a blend of integrity and expertise. For more details about their offerings, visit www.amtruinvest.com.
Contact Information
Media & Company Contact:
Ian E. Lippy
American Trust Investment Services, Inc. (ATIS)
For further inquiries, please reach out to the office directly.
Frequently Asked Questions
What is the purpose of the funding raised by Fly-E Group Inc.?
The funding is intended to support inventory purchases, vehicle production, and general corporate purposes.
How many shares are being offered in this transaction?
There are 28,595,553 shares of common stock being offered along with accompanying warrants.
What is the public offering price per share?
The public offering price is set at $0.2428 per share.
Who is the exclusive placement agent for this offering?
American Trust Investment Services, Inc. (ATIS) is the exclusive placement agent for Fly-E Group Inc.
What products does Fly-E Group Inc. primarily offer?
Fly-E Group Inc. specializes in smart electric motorcycles, e-bikes, scooters, and related accessories.
