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Fly-E Group, Inc. (NASDAQ:FLYE) will implement a 20-for-1 reverse stock split of its common stock, with trading on a split-adjusted basis expected to begin on the Nasdaq Capital Market on November 4, 2025. The decision follows approval by shareholders at a special meeting on October 13 and a subsequent determination by the board of directors on October 24 to fix the split ratio at 20-to-1. The move comes as FLYE’s stock price has fallen to $0.86, representing a steep 74.5% decline year-to-date, according to InvestingPro data.
According to a statement issued in a recent SEC filing, the reverse stock split will reduce the number of issued and outstanding shares from 32,647,030 to approximately 1,632,352 shares. Under the terms of the split, every twenty shares of existing common stock will be combined into one share. Shareholders holding a number of shares not evenly divisible by twenty will have their holdings rounded up to the nearest whole share.
The reverse stock split will become effective at 9:00 a.m. Eastern Time on November 4, 2025. The company’s common stock will continue to trade under the symbol FLYE. A new CUSIP number, 343927307, will be assigned to the post-split shares, replacing the previous CUSIP number 343927208.
Fly-E Group has advised shareholders not to send in their existing share certificates. The company’s transfer agent, VStock Transfer LLC, will notify shareholders regarding the process for exchanging certificates representing pre-split shares.
This information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Fly-E Group, Inc. announced that its shareholders have approved a reverse stock split authorization, allowing the board of directors to implement a stock split ratio ranging from 1-for-2 to 1-for-20. This decision was made during a special shareholder meeting, with the board having the discretion to determine the specific ratio and timing within the next year. Additionally, Fly-E Group has made significant changes to its executive team, appointing Lisa Fan as the new Chief Financial Officer and executive director, succeeding Shiwen Feng, who resigned earlier. In a related development, CEO Zhou Ou temporarily assumed the role of interim CFO following Feng’s resignation, which the company clarified was not due to any disagreements on corporate practices.
Furthermore, Fly-E Group has expanded its market presence by opening its first retail store in Mexico City in collaboration with local distributor TECHNOLOGIES E-SOLOMO. This partnership aims to enhance Fly-E’s footprint in the Mexican market, leveraging E-Solomo’s sales network and supply chain capabilities. These developments reflect Fly-E Group’s strategic initiatives to strengthen its market position and leadership team.
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