Erayak Power Solution Group Inc. Enters Securities Purchase Agreements

TL;DR

Erayak Power Solution Group Inc. just signed deals to issue more securities.

AI Summary

On May 20, 2024, Erayak Power Solution Group Inc. entered into securities purchase agreements with certain purchasers. The filing does not specify the dollar amounts or the exact number of shares involved in these agreements, but it indicates a transaction related to the issuance of securities.

Why It Matters

This filing indicates a potential capital raise or equity transaction for Erayak Power Solution Group Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a securities transaction, which can introduce dilution or financing risks for existing shareholders if not structured favorably.

Key Players & Entities

• Erayak Power Solution Group Inc. (company) — Registrant
• May 20, 2024 (date) — Date of Securities Purchase Agreements
• Securities Purchase Agreements (legal_document) — Agreements entered into by the company

FAQ

Key Financial Figures

• $0.0001 — 00 Class A ordinary shares, par value US$0.0001 per share, of the Company (the “C
• $0.50 — Ordinary Shares at an exercise price of $0.50 per share, subject to adjustment as pro
• $8,000,000 — , for an aggregate of purchase price of $8,000,000. The Warrants will become exercisable f

Filing Documents

• ea0206553-6k_erayak.htm (6-K) — 13KB
• ea020655301ex4-1_erayak.htm (EX-4.1) — 85KB
• ea020655301ex10-1_erayak.htm (EX-10.1) — 202KB
• 0001213900-24-045183.txt ( ) — 301KB

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 May 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 On May 20, 2024, Erayak Power Solution Group Inc., a Cayman Islands exempted company (the “Company”) entered into securities purchase agreements (the “Securities Purchase Agreements”) with certain purchasers (“Purchasers”) listed on the signature pages thereto (the “Purchasers”), in connection with the issuance and sale (the “Private Placement”) of (i) an aggregate of 16,000,000 Class A ordinary shares, par value US$0.0001 per share, of the Company (the “Class A Ordinary Shares”) and (ii) warrants (the “Warrants,” together with the Class A Ordinary Shares, the “Securities”) to purchase an aggregate of 32,000,000 Class A Ordinary Shares at an exercise price of $0.50 per share, subject to adjustment as provided therein, for an aggregate of purchase price of $8,000,000. The Warrants will become exercisable for cash or on a cashless basis upon issuance and will expire three years after the issuance date. The foregoing description of the Warrants does not purport to be complete and is qualified in its entirety by the full text of the Warrants, the form of which is attached hereto as Exhibit 4.1. The Securities Purchase Agreement contains customary representations, warranties and agreements by the Company and the Purchasers, and indemnification obligations of the Company against certain liabilities, including for liabilities under the Securities Act of 1933, as amended (the “Securities Act”). The provisions of the Securities Purchase Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement and are not intended as a document for investors and the public to obtain factual information about the current state of affairs of the Company. Rather, investors and the public should look to other disclosures contained in the Company’s filings with the Securities and Exchange Commission. The foregoing description of the Securities Purchase Agreement does not purport to be complete and is qualified in its entirety by the full text of that agreement, the form of which is attached hereto as Exhibit 10.1. The sale of the Securities is being made pursuant to pursuant to the provisions of Regulation S promulgated thereunder. No placement agent was involved in the Private Placement. On the same day, the parties closed the Private Placement. The Company intends to use the net proceeds from the Private Placement for working capital purposes. EXHIBIT INDEX Exhibit Description 4.1 Form of Warrant 10.1 Form of Securities Purchase Agreement by and between the Company and the Purchasers listed on the signature pages thereto 1 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: May 20, 2024 By: /s/ Lingyi Kong Lingyi Kong Chief Executive Officer 2

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View this 6-K filing on SEC EDGAR