Company: LIDRW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0000947871-25-000056
Chunk: 17

Company: AEye, Inc.
Filing Date: 2025-01-16
Form: S-1
Chunk 17
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 upon any subsequent transaction at a price lower than the Conversion Price then in
effect and standard adjustments in the event of stock dividends, stock splits, combinations or similar events. Subject to certain beneficial
ownership and Exchange Cap limitation described below, the Convertible Note is convertible in whole or in part at the option of such institutional
investor into shares of Common Stock at the applicable Conversion Price. Alternatively, in the event of an event of default, during the
Event of Default Redemption Right Period (as defined in the Convertible Note), the Conversion Price may be converted to an “Alternate
Conversion Price,” which is defined as the lowest of (i) the applicable Conversion Price as in effect on the applicable conversion
date of the applicable Alternate Conversion (as defined in the Convertible Note), and (ii) the greater of (x) the Floor Price and (y)
85% of the lowest VWAP of the Common Stock during the ten (10) consecutive trading day period ending on and including the trading day
immediately preceding the delivery or deemed delivery of the applicable conversion notice. These conversions shall be further subject
to certain redemption premiums, as is further described in the Convertible Note.

Pursuant to theConvertible Note, commencing on the date that is 90 days from the date of the closing, and on the first trading day of each month thereafter and the maturity date (each, an “Installment Date”) until theConvertible
Note is fully redeemed, the Company is generally obligated to pay the holder of theConvertible
Note an amount equal to the sum of (A) (x), with respect to any Installment Date other than the maturity date, one-fifteenth of the initial principal amount under theConvertible Note and (y), with respect to the Installment Date that is the maturity date, the principal amount then outstanding under theConvertible
Note as of such Installment Date, (B) any amount deferred pursuant to the terms of theConvertible
Note; (C) any amount accelerated pursuant to the terms of theConvertible Note and (D), in each of the foregoing, 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