Company: LIDRW
Filing Date: 2025-05-12
Form Type: POS AM
Source: 0000947871-25-000486
Chunk: 20

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: POS AM
Chunk 20
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 of August 15, 2024, (ii) the date on which New Circle shall have made payment pursuant to the purchase notices under
the Purchase Agreement equal to the Total Commitment or (iii) the date any statute, rule, regulation executive order, decree, ruling
or injunction shall have been enacted, entered, promulgated, withdrawn or endorsed by any court or governmental authority of competent
jurisdiction, as applicable, (which shall include the SEC), the effect of which would prohibit any of the transactions contemplated by
the Purchase Agreement (the “Termination Date”).

New Circle has no right to require the Company to
sell any shares of Common Stock to New Circle, but New Circle is obligated to make purchases as we direct, subject to certain conditions.
Upon our delivery of a purchase notice to New Circle, subject to the conditions of the Purchase Agreement, the shares of our Common Stock
will be issued from us to New Circle at a price per share chosen at our sole discretion, calculated based on (i) the lowest daily volume
weighted average price (“VWAP”) over a three consecutive trading day period commencing on the date of the applicable purchase
notice (“Option 2 Pricing Period”) or (ii) the VWAP of our common stock over a one trading day period or intraday trading
period (“Option 1 Pricing Period”). Purchase notices issued by the Company with an Option 2 Pricing Period selected shall
be sold at a price per share equal to (a) 97.5% multiplied by (b) the lowest daily VWAP of our common stock during the Option 2 Pricing
Period. Purchase notices issued by the Company with an Option 1 Pricing Period selected shall be sold at a price per share equal to (a)
96.5% multiplied by (b) the lowest of (1) the VWAP of our common stock on the immediately following full trading day (or current day,
if delivered prior to 9:00 A.M. Eastern Time), (2) the VWAP of our common stock commencing at the Intraday Commencement Time (as
defined in the Purchase Agreement) and ending at the earlier of 4:00 P.M. Eastern Time or fifteen (15) minutes after such time that the
total number of shares of our common stock traded since the Intraday Commencement Time exceeds 500% of the number of shares included
in such purchase notice (the “Volume Threshold Period”) and (3) the VWAP