Company: LIDRW
Filing Date: 2025-05-12
Form Type: POS AM
Source: 0000947871-25-000486
Chunk: 21

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: POS AM
Chunk 21
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 of our common stock commencing at the Intraday Commencement
Time and ending at the earlier of (A) one hour thereafter or (B) 4:00 P.M. Eastern Time of such trading day (the “One Hour VWAP
Period”); provided, that solely in the event the Company submits, and New Circle accepts, on any trading day multiple purchase
notices when it would otherwise not be required to accept such additional purchase notices, the price for purposes of subclause (b) above
of shares of our common stock for each such purchase notice other than the last purchase notice submitted and accepted shall be the lower
of (i) the VWAP of our common stock during the Volume Threshold Period and (2) the One Hour VWAP Period. There are no upper limits on
the price per share that New Circle must pay for shares of the Common Stock. Actual sales of shares of Common Stock to New Circle will
depend on a variety of factors to be determined by us from time-to-time, including, among other things, market conditions, the trading
price of our Common Stock, and determinations by us as to the appropriate sources of funding for us and our operations.

We do not know what the purchase price for our Common
Stock will be and therefore cannot be certain as to the number of shares we might issue to New Circle under the Purchase Agreement. Although
the Purchase Agreement provides that we may sell up to $ 50.0 million of our Common Stock to New Circle, only 25,000,000 shares
of our Common Stock are being registered under the Securities Act for resale by New Circle under this prospectus, which represent the
(i) 225,563 Commitment Shares that we issued to New Circle, as consideration of its irrevocable commitment to purchase shares of our
Common Stock under the Purchase Agreement and (ii) up to 24,774,437 shares of Common stock that may be issued to New Circle from and
after the Commencement Date, if and when we elect to sell shares which have been or may be issued to New Circle in the future under the
Purchase Agreement.

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If the remaining 21,519,287 shares offered
by New Circle for resale under this prospectus were issued and outstanding as of the date hereof, such shares would represent approximately
52.32 % of the total number of shares of our Common Stock outstanding as of May 8, 2025 . The number of shares ultimately