Company: LIDRW
Filing Date: 2025-03-04
Form Type: 424B3
Source: 0000947871-25-000265
Chunk: 16

Company: AEye, Inc.
Filing Date: 2025-03-04
Form: 424B3
Chunk 16
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 and unpaid late fees and charges, if any, payable pursuant to the terms of theConvertible Note as of such Installment Date (the “Installment Amount”). The Company, if certain equity conditions are satisfied, may elect to pay all or part of the Installment Amount in shares of Common Stock based on a conversion price equal to the lower of (i) the Conversion Price and (ii) the greater of (x) the Floor Price and (y) 90% of the VWAP in the five (5) trading days immediately prior to the applicable Installment Date. If the Company fails to satisfy certain equity conditions or at the election of the Company in its sole discretion, the Company may redeem the Installment Amount in cash.

The Convertible Note may not be converted and shares of Common Stock may not be issued under the Convertible Notes if, after giving effect to the conversion or issuance, such institutional investor together with its affiliates would beneficially own in excess of 4.99% (or, upon election of such institutional investor, 9.99%) of the outstanding Common Stock. In addition to the beneficial ownership limitations in the Convertible Note, the sum of the number of shares of Common Stock that may be issued under that the Convertible Note is limited to 19.99% of the outstanding Common Stock as of January 2, 2025 (the “Exchange Cap”), unless shareholder approval (“Stockholder Approval”) is obtained by the Company to issue more than the Exchange Cap under the Convertible Note. The Exchange Cap shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. At any time after June 15, 2025, if the Company is prohibited from issuing shares of Common Stock under the Convertible Note due to the Exchange Cap limitation (an “Exchange Cap Failure,” and such shares the “Exchange Cap Shares”), then in lieu of issuing such Exchange Cap Shares, the Company is required to pay a cash amount equal to the Exchange Cap Share Cancellation Amount. “Exchange Cap Share Cancellation Amount” means the cash amount equal to the greater of (a) $0 and (b) the product of (x) the number of Exchange Cap Shares that, but for the Exchange Cap limitation, would be issuable pursuant to a conversion notice and (y) fifty percent (50%) of the difference between (A) the greatest daily VWAP of the Common Stock on any trading day during the period commencing on the calendar