Fly-E Seeks Approval for Up to 25M Shares / $9M Offering at Up to 80% Discount
FLYE sits 80% above its 52-week low of $1.22.
Summary
Fly-E's preliminary proxy asks shareholders to approve issuing up to 25M shares for up to $9M, at prices as low as 20% of the Nasdaq Minimum Price — a structure the company says could dilute existing holders by about 93.87%. No definitive agreements are signed; the November 13, 2026 vote must pass first.
Key Events · Financing and Capital Events · FLYE
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Special Meeting Set for November 13
Shareholders of record as of September 30, 2026 (1,632,386 shares outstanding) will vote on a Nasdaq Rule 5635(d) issuance proposal and an adjournment proposal.
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Up to 25M Shares for Up to $9M
The authorization covers common stock, pre-funded warrants, common warrants, and variable-conversion convertible notes, capped at 25,000,000 shares and $9,000,000 aggregate.
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Pricing as Low as 20% of Minimum Price
Purchase, exercise, and conversion prices may be as low as 20% of the Nasdaq Minimum Price — an 80% maximum discount — with no floor above that.
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Company Estimates ~93.87% Dilution
If all 25,000,000 shares are issued, outstanding shares would rise to 26,632,386 and existing holders' aggregate ownership would fall from 100% to about 6.13%.
Analysis · FLYE · Manufacturing
Shareholders are being asked to pre-approve a financing that could issue up to 25,000,000 shares — against just 1,632,386 outstanding — for up to $9,000,000, with pricing allowed as low as 20% of the Nasdaq Minimum Price. Fly-E itself calculates that full issuance would cut existing holders' ownership from 100% to about 6.13%, roughly 93.87% dilution. That scale of concession, plus variable-conversion convertible notes, points to a company that cannot raise money on ordinary terms; the last 10-Q showed $60K of cash, a $3.9M quarterly loss, revenue down 48%, and an unresolved loan default. Nothing is signed yet — no purchase agreement, no placement agent terms — so the vote on November 13, 2026 is the gate before any deal exists.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FLYE was trading at $2.20 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.6M. The 52-week trading range was $1.22 to $22.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.