Company: LIDRW
Filing Date: 2025-05-12
Form Type: POS AM
Source: 0000947871-25-000486
Chunk: 23

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: POS AM
Chunk 23
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 the frequency and prices at which we sell shares of our stock to New Circle. We expect that any proceeds received by us
from such sales to New Circle will be used for working capital and general corporate purposes.

As consideration for New Circle’s irrevocable
commitment to purchase shares of our Common Stock upon the terms of and subject to satisfaction of the conditions set forth in the Purchase
Agreement, we issued 225,563 Commitment Shares to New Circle. Furthermore, upon the earlier of twelve (12) months from the date of execution
of the Purchase Agreement and (y) the purchase of Common Stock by New Circle of an aggregate value of $ 15.0 million dollars pursuant
to purchases notices, we paid New Circle $0.2 million in cashRD.

Termination of the Purchase Agreement

Unless earlier terminated as provided in the Purchase
Agreement, the Purchase Agreement will terminate automatically on the earliest to occur of:

| · | the date on which New Circle shall have made payment of the Commitment Shares pursuant to the purchase 
 notices under the Purchase Agreement equal to the Total Commitment or                                  |

| · | the                                                                                               
 date any statute, rule, regulation , executive order, decree, ruling or injunction                
 shall have been enacted, entered, promulgated, withdrawn or endorsed by any court or governmental 
 authority of competent jurisdiction, as applicable, (which shall include the SEC), the effect     
 of which would prohibit any of the transactions contemplated by the Purchase Agreement.           |

We have the right to terminate the Purchase Agreement
at any time, at no cost or penalty, upon five trading days’ prior written notice to New Circle; provided that (i) there are no outstanding
purchase notices under which our Common Stock have yet to be issued, and (ii) the Company has paid all amounts owed to New Circle pursuant
to the Purchase Agreement. We and New Circle may also terminate the Purchase Agreement at any time by mutual written consent.

| 12 |

Effect of Performance of the Purchase Agreement on our Stockholders

All shares of our Common Stock that have been or
may be issued or sold by us to New Circle under the Purchase Agreement that are being registered under the Securities Act for resale
by New Circle in this offering are expected to be freely tradable. The shares of our Common Stock being registered for resale in this
offering (excluding the 225,563 Commitment Shares we already issued to New Circle) may be issued and sold by us to New Circle from time
to time