Company: LIDRW
Filing Date: 2025-03-04
Form Type: 424B3
Source: 0000947871-25-000265
Chunk: 12

Company: AEye, Inc.
Filing Date: 2025-03-04
Form: 424B3
Chunk 12
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, the sum of any accrued and unpaid interest, the make-whole amount 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 of $0.30 and (y) 90% of the VWAP (as defined in the Convertible Note) 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 Warrant has an initial exercise price of $2.22 and is exercisable
after the six month and one day anniversary of its issuance for a period of four years.

ATM Transaction

On September 12, 2024, the Company entered into an At Market Issuance
Sales Agreement (the “Sales Agreement”) with A.G.P./Alliance Global Partners (“A.G.P.”). In accordance with the
terms of the Sales Agreement, the Company may offer and sell from time to time through A.G.P., acting as sales agent, the Company’s
common stock having an aggregate offering price of up to $2.6 million (the “Placement Shares”). The Placement Shares will
be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-274546). The Company filed a
prospectus supplement dated September 13, 2024, with the SEC in connection with the offer and sale of the Placement Shares.
The Company filed a prospectus supplement dated December 30, 2024 to update the maximum number of the Placement Shares issuable pursuant to the Sales Agreement to up to an aggregate of $5.2 million.

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On January 7, 2025, the Company filed the Amendment No. 1 to the prospectus
supplements to the shelf registration statement on Form S-3 to update the maximum number of the Placement Shares issuable pursuant to
the Sales Agreement to up to an aggregate of $8.5 million. On January 23, 2025, the Company filed the Amendment No. 2 to the prospectus