Fly-E Group, which makes and sells electric bikes, motorcycles and scooters, filed with the SEC on Friday to raise up to $17 million in an initial public offering.
The Fly-E Group designs, installs and sells intelligent electric motorcycles, electric bicycles, electric scooters and related accessories under the “Fly E-Bike” brand. The Company's product portfolio currently consists of 21 e-motorcycle products, 34 e-bike products and 12 e-scooter products, which it sells both online and through a network of 39 retail stores in the United States and Canada.
The Flushing, NY-based company was founded in 2018 and had revenue of $26 million for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol FLYE. Fly-E Group submitted the application confidentially on August 14, 2023. Benchmark Company is the sole bookrunner on the deal. No pricing terms were announced.
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