Fly-E Group, which makes and sells electric bikes, motorcycles, and scooters, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
Fly-E Group designs, installs, and sells smart electric motorcycles, electric bikes, electric scooters, and related accessories under the brand "Fly E-Bike." 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 across the US and Canada.
The Flushing, NY-based company was founded in 2018 and booked $26 million in sales for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol FLYE. Fly-E Group filed confidentially on August 14, 2023. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
