Company: LIDRW
Filing Date: 2025-05-12
Form Type: POS AM
Source: 0000947871-25-000486
Chunk: 27

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: POS AM
Chunk 27
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 New Circle under the Purchase Agreement.                                          |

| (3) | New Circle Principal Investments LLC (“New Circle”) is a wholly owned subsidiary of New Circle                                               
 Capital LLC, the sole member of New Circle. Osman Ahmed and Walter Arnold are the Managing Members of New Circle Capital LLC. All investment 
 decisions for New Circle Capital LLC are made by Messrs. Ahmed and Arnold. As such, each of New Circle, New Circle Capital LLC, and Messrs.  
 Ahmed and Arnold may be deemed to have beneficial ownership of the securities directly held by New Circle. Each such entity or person        
 disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein. The      
 address of each of New Circle and New Circle Capital LLC is 60 West 23rd Street, #630, New York, NY 10010.                                   |

| 16 |

<div align='center'>DESCRIPTION OF CAPITAL STOCK</div>

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 Amended Charter, (ii) our Amended Bylaws, (iii) the Registration Rights Agreement, dated as of July 25, 2024, between
the Company and New Circle Principal Investments LLC (the “Registration Rights Agreement”), (iv) the Form of Indemnification
Agreement, (v) the Registration Rights Agreement, dated as of September 15, 2022, between the Company and an institutional investor
(the “Note Registration Rights Agreement”), (vi) the Securities Purchase Agreement, dated as of May 10, 2024, between the
Company and Dowslake Microsystems Corporation (“Dowslake”) (the “Dowslake Purchase Agreement”) and the Registration
Rights Agreement, dated January 2, 2025, between the Company and an institutional investor (the “2025 Registration Rights Agreement”),
each of which is incorporated by reference as exhibits to this prospectus.

General

Our purpose is to engage in any lawful act or activity
for which corporations may be organized under the Delaware General Corporation Law (“DGCL”). Our authorized capital stock
consists of (a) 600,000,000 shares of Common Stock and (b) 1,000,000 shares of preferred stock, par value $0.0001 per share. As of the
date of this prospect