Fly-E Group, Inc 8-K, filed Nov 4, 2026
Fly-E Group, Inc. (FLYE)
About this 8-K
Fly-E Group, Inc filed this 8-K on November 4, 2026, reporting on events of October 30, 2026.
Peapack Private Bank & Trust sued Fly-E Group, Inc. on October 30, 2026, seeking at least $3.9 million in outstanding principal over alleged credit facility breaches, plus interest, charges and fees, and possession of collateral. AI summary
Items reported
- Item 2.04: Debt obligation accelerated or increased
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Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On October 30, 2026, Peapack Private Bank & Trust, formerly known as Peapack-Gladstone Bank (the “Lender”), submitted a complaint (the “Complaint”) to the Supreme Court of the State of New York, County of Queens, against Fly-E Group, Inc. (the “Company”), two of the Company’s subsidiaries as co-borrowers, certain corporate guarantors, and two individual guarantors, demanding payment of all amounts outstanding under the Company’s revolving credit facility with the Lender.
The Complaint relates to a Revolving Credit Note in the maximum principal amount of $5,000,000 and a Loan and Security Agreement, each dated August 5, 2024, among the Lender, as lender, and the Company and two of its subsidiaries, Fly E-Bike, Inc. and Fly EV, Inc., as borrowers (the “Credit Facility”). The obligations under the Credit Facility are secured by substantially all of the personal property of the borrowers and certain other subsidiaries of the Company, and are guaranteed by certain subsidiaries of the Company and by Zhou Ou, the Company’s Chief Executive Officer, and Ke Zhang. The Credit Facility matured on August 31, 2025, and the Lender subsequently agreed, under a Forbearance Agreement dated November 7, 2025, as amended on May 28, 2026, to forbear from exercising certain remedies through June 30, 2026.
The Complaint alleges, among other things, breaches of the Credit Facility and the related guaranties, and seeks recovery from the defendants, jointly and severally, of at least $3.9 million in outstanding principal, together with accrued interest (including at a post-forbearance rate of 15.375% per annum and default interest), late charges, and attorneys’ fees, costs and expenses. The Complaint also seeks possession of the collateral securing the obligations, following the Lender’s October 20, 2026 demand that the borrowers assemble and turn over such collateral.
The Company is reviewing the Complaint and evaluating its defenses and other available responses.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Fly-E Group, Inc. | ||
| Date: November 4, 2026 | By: | /s/ Zhou Ou |
| Name: | Zhou Ou | |
| Title: | Chief Executive Officer | |
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