Company: LIDRW
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025747
Chunk: 89

Company: AEye, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 Present value of lease liabilities  $613 

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    6.   ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES  

   Accrued expenses and other current liabilities as of  June 30, 2025 and  December 31, 2024 are as follows (in thousands):

       June 30, 2025    December 31, 2024  
   (unaudited)      
 Lease termination liability  $301  $3,313 
 Accrued payroll   342   347 
 Operating lease liabilities   253   267 
 Accrued payroll taxes   105   159 
 Accrued bonuses   1,248   2,875 
 Accrued other   868   748 
 Total accrued expenses and other current liabilities  $3,117  $7,709 

    7.  CONVERTIBLE NOTES 

   2024 Promissory Note
    
   On  May 10, 2024, the Company entered into a Securities Purchase Agreement with an investor for the sale and issuance of 330,823 shares of common stock and a 5-year promissory note with a principal balance of $146 ( “May 2024 Note”) for total gross cash proceeds of $1,000. The  May 2024 Note bears interest at an annual rate equal to the Secured Overnight Financing Rate plus 1.0%, which is compounded quarterly in arrears, and has a maturity date of  June 4, 2029. At maturity, the principal balance and accrued, unpaid and uncapitalized interest can be settled in cash, shares of common stock based on the closing price of the common stock as of the immediately preceding trading day, or any combination of the foregoing at the option of the investor. ﻿
    
   2025 Convertible Note
    
   In  January 2025, the Company entered into a Securities Purchase Agreement with a certain institutional investor and issued (i) a senior unsecured convertible promissory note (the "2025 Note") for an aggregate principal amount of $3,240 for an aggregate purchase price of $3,000 and (ii) a warrant to purchase up to 805,263 shares of the Company’s common stock. The 2025 Note, subject to an original issue discount of