Erayak Power Solution Group Inc. Files 6-K for Home Country Rule
Ticker: RAYA · Form: 6-K · Filed: Mar 20, 2024 · CIK: 1825875
Sentiment: neutral
Topics: reporting, exemption, foreign-private-issuer
Related Tickers: ERAY
TL;DR
Erayak Power Solution Group Inc. (ERAY) is using a home country rule exemption for its 2023 20-F filing.
AI Summary
Erayak Power Solution Group Inc. filed a Form 6-K on March 20, 2024, to disclose its intention to utilize the home country rule exemption in its upcoming annual report on Form 20-F for the fiscal year ended December 31, 2023. The company is incorporated in the Cayman Islands.
Why It Matters
This filing clarifies Erayak's reporting obligations and how it will present its financial information for the fiscal year 2023, which could impact how investors interpret its financial health.
Risk Assessment
Risk Level: low — The filing is procedural and relates to reporting exemptions, not operational or financial performance changes.
Key Players & Entities
- Erayak Power Solution Group Inc. (company) — Registrant
- Form 6-K (document) — Filing type
- Form 20-F (document) — Annual report form
- December 31, 2023 (date) — Fiscal year end
- Cayman Islands (location) — Company incorporation
FAQ
What is the purpose of this Form 6-K filing?
The purpose is to disclose Erayak Power Solution Group Inc.'s intention to use the home country rule exemption in its annual report on Form 20-F for the fiscal year ended December 31, 2023.
When was this Form 6-K filed?
This Form 6-K was filed on March 20, 2024.
What fiscal year does the Form 20-F report cover?
The Form 20-F report covers the fiscal year ended December 31, 2023.
Where is Erayak Power Solution Group Inc. incorporated?
Erayak Power Solution Group Inc. is incorporated in the Cayman Islands.
What is the home country rule exemption?
The home country rule exemption allows certain foreign private issuers to follow their home country's disclosure requirements for specific aspects of their annual reports, rather than adhering strictly to U.S. SEC regulations.
Filing Stats: 456 words · 2 min read · ~2 pages · Grade level 15.3 · Accepted 2024-03-20 16:10:08
Filing Documents
- ea0201824-6k_erayakpow.htm (6-K) — 11KB
- ea0201824ex99-1_erayakpow.htm (EX-99.1) — 10KB
- image_001.jpg (GRAPHIC) — 3KB
- 0001213900-24-024367.txt ( ) — 27KB
From the Filing
OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2024 Commission file number: 001-41568 Erayak Power Solution Group Inc. (Registrant’s name) No. 528, 4th Avenue Binhai Industrial Park Wenzhou, Zhejiang Province People’s Republic of China 325025 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F INFORMATION CONTAINED IN THIS FORM 6-K REPORT This report of foreign private issuer on Form 6-K is being filed to disclose the home country rule exemption of Erayak Power Solution Group Inc., a Cayman Islands exempted company (the “Company”), that it intends to disclose in its annual report on Form 20-F for the fiscal year ended December 31, 2023. As a company incorporated in the Cayman Islands that is listed on The Nasdaq Stock Market LLC (“Nasdaq”), the Company is subject to Nasdaq corporate governance listing standards. Under Nasdaq rules, a foreign private issuer may, in general, follow its home country corporate governance practices in lieu of some of the Nasdaq corporate governance requirements. Pursuant to the home country rule exemption set forth under Nasdaq Listing Rule 5615(a)(3)(A), which provides (with certain exceptions not relevant to the conclusions expressed herein) that a foreign private issuer may follow its home country practice in lieu of the requirements of the Nasdaq Listing Rules 5600 Series, 5250(b)(3) and 5250(d), the Company elected to be exempt from Nasdaq Listing Rule 5635, which sets forth (A) the circumstances under which shareholder approval is required prior to an issuance of securities in connection with: (a) the acquisition of the stock or assets of another company, (b) equity-based compensation of officers, directors, employees or consultants, (c) a change of control, and (d) transactions other than public offerings; (B) general provisions relating to shareholder approval; and (C) the financial viability exception to the shareholder approval requirement. Harney Westwood & Riegels, the Company’s Cayman Islands counsel, has provided a letter to Nasdaq certifying that under Cayman Islands law, the Company is not required to comply with above-mentioned requirements. Except for the foregoing, there is no significant difference between the Company’s corporate governance practices and what Nasdaq requires of domestic U.S. companies. EXHIBIT INDEX Exhibit Number Description 99.1 Home Country Exemption Letter SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Erayak Power Solution Group Inc. Dated: March 20, 2024 By: /s/ Lingyi Kong Lingyi Kong Chief Executive Officer