Company: LIDRW
Filing Date: 2025-01-03
Form Type: 8-K
Source: 0000947871-25-000004
Chunk: 0

Company: AEye, Inc.
Filing Date: 2025-01-03
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement.  

On January 2, 2025, AEye, Inc. (“ AEye”
or the “ Company”) entered into a Securities Purchase Agreement (the “ Purchase Agreement”) to finance
an aggregate principal amount of up to $3,240,000 with a certain institutional investor (the “ Purchaser”).

At the closing under the Purchase Agreement,
which will occur upon certain customary conditions being satisfied as provided in the Purchase Agreement, the Company will issue to the
Purchaser (i) a senior unsecured convertible promissory note in the aggregate principal amount of $3,240,000 for an aggregate purchase
price of $3,000,013.20 (the “ Note”) and (ii) a warrant (the “ Warrant”) to purchase up to 805,263
shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock”).

The Note, subject to an original issue discount
of 7.4%, has a term of eighteen months and accrues interest at the rate of 7.0% per annum. The Note is convertible into Common Stock,
at a per share conversion price equal to $2.22, subject to adjustments noted in the Note (the “ Conversion Price”).
Pursuant to the 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 (as defined in the Note) (each, an “ Installment Date”) until the Note is fully redeemed,
the Company is generally obligated to pay the holder of the 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 the Note and (y), with respect to the Installment
Date that is the Maturity Date, the principal amount then outstanding under the Note as of such Installment Date, (B) any Deferral Amount
(as defined in the Note) deferred pursuant to the terms of the Note; (C) any Acceleration Amount (as defined in the Note) accelerated
pursuant to the terms of the Note and (D), in each of the foregoing, the sum of any accrued and unpaid interest, the Make-Whole Amount
(as defined in the Note) and unpaid late fees and charges,