Company: LIDRW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0000947871-25-000056
Chunk: 36

Company: AEye, Inc.
Filing Date: 2025-01-16
Form: S-1
Chunk 36
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officers, and persons who control us within the meaning of the Securities Act against certain liabilities.

Item 15. Recent Sales of Unregistered Securities.

Set forth below is information regarding shares of capital stock issued
by us within the past three years. Also included is the consideration received by us for such shares and information relating to the section
of the Securities Act, or rule of the Securities and Exchange Commission, under which exemption from registration was claimed.

Amounts below are in thousands except share amounts and per share data or where we use the word “million.”

(a) Issuance of Capital Stock.

PIPE Subscription Agreements

Contemporaneously with the execution of the Merger Agreement, CF III entered
into separate PIPE Subscription Agreements in a private placement with a number of PIPE investors, pursuant to which the PIPE Investors
agreed to purchase, and CF III agreed to sell to the PIPE Investors, an aggregate of 22,000,000 shares of Common Stock, for a purchase
price of $10.00 per share and an aggregate purchase price of $220 million. CF III also entered into a PIPE Subscription Agreement for
500,000 shares of Common Stock, for a purchase price of $10.00 per share and an aggregate purchase price of $5 million with an investor
who defaulted on the Closing Date under the PIPE Subscription Agreement. The Company plans to aggressively pursue its available remedies
with respect to such investor.

In accordance with the terms of the PIPE Subscription Agreements, on August
16, 2021 the Company issued 22,000,000 unregistered securities to the PIPE Investors. The shares of Common Stock issued pursuant to the
Subscription Agreements were not registered under the Securities Act and were issued in reliance upon the exemption provided
in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.

This summary is qualified in its entirety by reference to the PIPE Subscription
Agreements, the form of which is included as Exhibit 10.1 to this prospectus.

Placement Units

Simultaneously with the IPO, CF III purchased an aggregate of 500,000 private
placement units at a price of $10.00 per unit (or an aggregate purchase price of $5,000). Each placement unit consists of one placement
share and one-third of one placement warrant to purchase one share of our Common Stock exercisable at $11.50. The sale of the Private
Placement Warrants was made pursuant to an exemption from registration contained in Section 4