Erayak Power Solution Group Inc.

Erayak Power Solution Group Inc. (RAYA) priced its initial public offering on Dec 15, 2022 at $4.00 per share, raising $12M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $44M. Craft Capital was lead-left underwriter, joined by R.F. Lafferty. Ortoli Rosenstadt, Harneys, VCL Law, King & Wood Mallesons and Grandway Law Offices advised the company.

Erayak Power Solution Group Inc. operates in China through Zhejiang Leiya, which makes customized, built-to-order products. It supplies international companies including Einhell Germany AG, Canadian Tire Corporation and Steren Electronics International.

Status

IPO

Ticker

RAYA

Exchange

Nasdaq Capital Market

Priced

Dec 15, 2022

IPO price

$4.00

Raised

$12M

Market cap at IPO price

$44M

First filed

Jan 21, 2022

Underwriters

Craft Capital and R.F. Lafferty

Company counsel

Ortoli Rosenstadt, Harneys, VCL Law, King & Wood Mallesons and Grandway Law Offices

Sector

Industrials & materials

Country / state

China

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.