Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 853

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 853
---
 Company is in breach of the lease for its former headquarters office in Dublin, California because of the Company’s failure to pay rent as required by the lease and (2) provides notice that the lease had been terminated by the landlord effective as of  August 23, 2024.  The landlord claimed that the amount owed could be up to $8,500. Thereafter, in  August 2024, the landlord fully drew down the standby letter of credit of $2,150, which was held as security for the payment of rent, due to the alleged default of the lease. The Company disputes, among other things, that the total damages claimed by the landlord equal the amount claimed. Depending on the outcome of this matter, there could be a material adverse effect on the financial position, results of operations, or cash flows of the Company. An initial trial date has been set for  April 2026.

       22. 
       RELATED PARTIES 

   From  November 2016 to  December 2023, the Company had employed a sibling of Mr. Dussan, a director and the Company’s former Chief Technology Officer, who held the position of Director, Human Resources and Sr. Manager of Human Resources during 2023. For the year ended  December 31, 2023, Mr. Dussan’s sibling received total cash compensation of $149 and was granted 2,000 RSUs. In addition, he participated in all other benefits that the Company generally offers to all of its employees.  There were no related party transactions during the year ended  December 31, 2024.

    23.  SUBSEQUENT EVENTS 

   Management has evaluated subsequent events through  February 24, 2025 and determined that there were no such events requiring recognition or disclosure in the financial statements, other than as noted below. 
    
   In  January 2025, the Company entered into a Securities Purchase Agreement to finance an aggregate principal amount of up to $3,240 with a certain institutional investor and issued (i) a senior unsecured convertible promissory note (the "Note") for an aggregate purchase price of $3,000 and (ii) a warrant to purchase up to 805,263 shares of the Company’s 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