Company: LIDRW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0000947871-25-000056
Chunk: 24

Company: AEye, Inc.
Filing Date: 2025-01-16
Form: S-1
Chunk 24
---
 Without regard to the Maximum Percentage, as of January 14, 2025, this selling stockholder would beneficially own an aggregate of 2,323,056 shares of our Common Stock, consisting of (i) up to 58,333 shares of Common Stock underlying a warrant held by this selling stockholder, convertible at the exercise price of $105.00 per share, none of which shares are being registered for resale under this prospectus, (ii) up to 2,495,676 shares underlying the Convertible Note held by this selling stockholder, currently convertible at an conversion price of $2.22, all of which are being registered for resale under this prospectus and (iii) up to 1,207,895 shares underlying the Warrant held by this selling stockholder, all of which are being registered for resale under this prospectus. |

| 20 |

| (8) | For the purposes of the calculations of Common Stock to be sold pursuant to the prospectus we are assuming (i) an event of default under the Convertible Note has not occurred, and that the Convertible Note is converted in full at an Alternate Conversion Price of $2.22 per share without regard to any limitations set forth therein and (ii) that the Warrant is converted in full without regard to any limitations set forth therein. |
| (9) | This column lists the number of shares of our Common Stock beneficially owned by this selling stockholder as of January 14, 2025, consisting of 330,823 shares of our Common Stock issued to the selling stockholder as part of the Dowslake Purchase Agreement.                                                                                                                                                                               |

| (10) | Represents (i) 330,823 shares of our Common                                                                                                  
 Stock issued to the selling stockholder as part of the Dowslake Purchase Agreement and (ii) 1,319,316 shares of our Common Stock, reflecting 
 19.99% of the outstanding shares of our Common Stock at the time of the Dowslake Transaction, representing the maximum number of shares      
 issuable pursuant to the Dowslake Note until such time that our stockholders approve the issuance of our shares in excess of such 19.99%     
 beneficial ownership limitation.                                                                                                             |

| 21 |

DESCRIPTION OF CAPITAL STOCK

The following description of the material features of our capital stock
is a summary and does not purport to be complete. The description is subject to and qualified in its entirety by reference to (i) our