Erayak power solution group inc. announces pricing of $12 million initial public offering

Wenzhou, china, dec. 14, 2022 (globe newswire) -- erayak power solution group inc. (“erayak” or the “company”) (nasdaq: raya), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, announced the pricing of its initial public offering of 3 million class a ordinary shares at a public offering price of $4.00 per share, for total gross proceeds of $12 million, before deducting underwriting discounts, commissions, and other related expenses on december 13, 2022. in addition, erayak has granted the underwriters a 45-day option to purchase up to an additional 450,000 ordinary shares at the public offering price, less underwriting discount, and commissions.
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