Certain Class A Ordinary Shares of Erayak Power Solution Group Inc. are subject to a Lock-Up Agreement Ending on 13-JUN-2023. These Class A Ordinary Shares will be under lockup for 182 days starting from 13-DEC-2022 to 13-JUN-2023.

Details:
Directors, officers and holders of 5% or more of ordinary shares on a fully diluted basis immediately prior to the consummation of this offering has agreed that during the period of six (6) months from the commencement of the Company’s first day of trading on the Nasdaq, without the prior written consent of the Representative, and subject to certain exceptions, they will not, directly or indirectly, (i) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly, any ordinary shares of the Company or any securities convertible into or exercisable or exchangeable for ordinary shares of the Company, whether now owned or hereafter acquired by such person or with respect to which such person has or hereafter acquires the power of disposition; (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities; (iii) make any demand for or exercise any right with respect to the registration of any such securities; or (iv) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any such securities.