Erayak Power Solution Group enters $10 million at-the-market share sales agreement

Erayak Power Solution Group Inc. (NASDAQ:RAYA), currently trading at $4.19 per share, announced Monday it has entered into an at-the-market sales agreement with Craft Capital Management LLC, according to a statement based on a filing with the Securities and Exchange Commission. The company, which generated $4.83 million in revenue over the last twelve months, maintains a FAIR financial health rating according to InvestingPro analysis.

Under the agreement, Erayak may offer and sell up to $10 million of its Class A ordinary shares, with sales to be made from time to time through Craft Capital Management as sales agent. The shares may be sold directly on the exchange, on other trading markets, or through market makers, as permitted by law. This capital raise comes as the company faces challenging market conditions, with revenue declining nearly 12% in the last twelve months.

The company is not obligated to sell any shares under the agreement and has not specified the timing, price, or quantity of any potential sales. Craft Capital Management will receive a commission equal to 4.0% of the aggregate gross proceeds from each share placement. The agreement allows for termination by either party and includes provisions for indemnification and reimbursement of certain expenses to the agent.

Erayak stated that the net proceeds from any sales would be used to support initiatives related to its North American strategy, including expanding its product portfolio, localizing manufacturing and supply chains, regulatory and safety compliance, go-to-market and service infrastructure, and working capital management. The company maintains a healthy current ratio of 3.05, according to InvestingPro data, which provides additional financial flexibility for these initiatives. As of the date of the filing, the company had not entered into any definitive agreements regarding these initiatives.

The offer and sale of shares will be made pursuant to Erayak’s shelf registration statement on Form F-3, which was declared effective by the SEC on August 9, 2024, and supplemented by a prospectus dated September 22, 2025.

This information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.

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