Fly-e group, inc. announces full exercise and closing of over-allotment option

New york, n.y., june 27, 2024 (globe newswire) -- 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.
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