Company: LIDRW
Filing Date: 2025-03-04
Form Type: 424B3
Source: 0000947871-25-000265
Chunk: 15

Company: AEye, Inc.
Filing Date: 2025-03-04
Form: 424B3
Chunk 15
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 Common Stock at a per share conversion price equal to $2.22, subject to adjustments contained in the Convertible
Note (the “Conversion Price”). The Conversion Price is subject to full ratchet anti-dilution protection, subject to a
floor conversion price of $0.30 per share (the “Floor Price”), and certain exceptions upon any subsequent transaction at
a price lower than the Conversion Price then in effect and standard adjustments in the event of stock dividends, stock splits,
combinations or similar events. Subject to certain beneficial ownership and Exchange Cap limitation described below, the Convertible
Note is convertible in whole or in part at the option of such institutional investor into shares of Common Stock at the applicable
Conversion Price. Alternatively, in the event of an event of default, during the Event of Default Redemption Right Period (as
defined in the Convertible Note), the Conversion Price may be converted to an “Alternate Conversion Price,” which is
defined as the lowest of (i) the applicable Conversion Price as in effect on the applicable conversion date of the applicable
Alternate Conversion (as defined in the Convertible Note), and (ii) the greater of (x) the Floor Price and (y) 85% of the lowest
VWAP of the Common Stock during the ten (10) consecutive trading day period ending on and including the trading day immediately
preceding the delivery or deemed delivery of the applicable conversion notice. These conversions shall be further subject to certain
redemption premiums, as is further described in the Convertible Note.

Pursuant to theConvertible Note, commencing on the date that is 90 days from the date of the closing, and on the first trading day of each month thereafter and the maturity date (each, an “Installment Date”) until theConvertible
Note is fully redeemed, the Company is generally obligated to pay the holder of theConvertible
Note an amount equal to the sum of (A) (x), with respect to any Installment Date other than the maturity date, one-fifteenth of the initial principal amount under theConvertible Note and (y), with respect to the Installment Date that is the maturity date, the principal amount then outstanding under theConvertible
Note as of such Installment Date, (B) any amount deferred pursuant to the terms of theConvertible
Note, (C) any amount accelerated pursuant to the terms of theConvertible Note, and (D) in each of the foregoing, the sum of any accrued and unpaid interest, the make-whole amount