Erayak Power Sol SEC Filings

Erayak Power Solution Group Inc. submitted resolutions to shareholders relating to corporate governance. Proposal 2 seeks shareholder approval, conditional on Proposal One, to adopt a Third Amended and Restated Memorandum and Articles of Association as set forth in the notice appendix and to authorize the Board to take all actions necessary to implement and file the document with the Cayman Islands Registrar of Companies. The filing shows vote tallies associated with Proposal 2 as 189,245,499, 8,795,435 and 567,423. Proposal 3 is an ordinary resolution to permit adjournment of the Extraordinary General Shareholders Meeting to solicit additional proxies; associated tallies are 189,950,040, 8,151,047 and 507,270. The document is dated September 8, 2025 and signed by Lingyi Kong, Chief Executive Officer.

Erayak Power Solution Group Inc. (Nasdaq: RAYA) is raising up to US$7.0 million via a registered direct offering of 32.16 million Class A ordinary shares at US$0.065 and pre-funded warrants for 75.54 million shares at US$0.0649 (exercise price US$0.0001). Craft Capital Management acts as exclusive placement agent, earning a 6 % cash fee plus five-year warrants for 6.46 million shares at US$0.08125.

• Gross proceeds: US$7.0 million; net ≈ US$6.58 million after fees.
• Closing expected 1 Aug 2025; securities register under shelf F-3 (US$100 million).
• Use of proceeds: general corporate purposes and working capital.
• Pre-funded warrants allow purchasers to avoid 9.99 % ownership cap and are exercisable immediately.
• Company last traded at US$0.059 (31 Jul 2025), implying a modest 10 % premium vs. share purchase price but large potential dilution (>150 % of current float if all warrants exercised).

Erayak is a Cayman holding company operating through PRC subsidiaries (no VIE). Filing reiterates extensive China-related risks: CSRC post-offering filing, HFCAA, capital controls, cyber-security, anti-monopoly and potential government intervention that could render shares worthless. Auditor Fortune CPA is PCAOB-inspected. Company previously regained Nasdaq minimum-bid compliance (Nov 2024) but share price has since fallen.

Erayak Power Solution Group (RAYA) reports two linked contracts that launch a major production-capacity expansion in Wenzhou.

1) On 19 Feb 2025 subsidiary Ruike secured 50-year state-owned sea-area & land-use rights for an industrial plot in Longwan District. Consideration of RMB 17.57 m was paid in March 2025; registration is still pending. Non-compliance or payment delays could void the rights.

2) On 25 Mar 2025 Ruike signed a preliminary construction agreement with Zhongxia Construction to build a generator-automation plant and intelligent warehouse. Provisional price is RMB 80 m, of which RMB 17.2 m has been advanced. Project completion is targeted by 2027 with milestone, quality and penalty clauses.

Combined commitments of ≈RMB 97.6 m (≈US$13.3 m) aim to boost manufacturing efficiency and shorten delivery times, but introduce execution, regulatory and funding risks.