Today's IPO for China-based Erayak Power Solution Group (RAYA) is set to open later today on the NASDAQ after offering 3 million shares at $4.
Underwriters for the offering are Craft Capital Management and R.F. Lafferty.
Erayak Power Solution Group Inc. was formed in 2019 under the laws of the Cayman Islands. The company conducts business primarily through our wholly-owned subsidiaries, Zhejiang Leiya and Wenzhou New Focus, in the People’s Republic of China, or the PRC. The company specializes in the manufacturing, research and development (“R&D”), and wholesale and retail of power solution products. Zhejiang Leiya’s product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products. The company's products are used principally in agricultural and industrial vehicles, recreational vehicles (“RVs”), electrical appliances, and outdoor living products. The primary office is located in Zhejiang province, where they serve a large customer base throughout PRC and expand our reach to international clients. The company's goal is to be the premier power solutions brand and a solution for mobile life and outdoor living.