Company: LIDRW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0000947871-25-000056
Chunk: 21

Company: AEye, Inc.
Filing Date: 2025-01-16
Form: S-1
Chunk 21
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ake’s sole discretion as to the allocation, any payment on the Dowslake Note may be made by (i) paying cash, (ii)
converting the applicable amount of Principal Balance into Common Stock, or (iii) any combination of the foregoing (each, a “Dowslake
Note Payment”).

The conversion price applicable to each Dowslake Note Payment is the per
share closing price of the Common Stock on the Nasdaq Stock Market or such other principal market or exchange on which the Common Stock
is then listed for trading as of the immediately preceding trading day. Any conversion of the Dowslake Note into the Common Stock is subject
to limitations that the number of shares of Common Stock issuable shall not exceed, in accordance with the applicable Nasdaq rules, (A)
19.99% of the number of shares of Common Stock outstanding on the Original Issue Date, including shares of Common Stock issued or issuable
in any transaction that is required to be aggregated with Dowslake Transaction under the rules and regulations of the Nasdaq Stock Market
or (B) 19.99% of the number of shares of Common Stock outstanding or the total voting power of the Company’s securities outstanding.

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<div align='center'>SELLING STOCKHOLDERS</div>

The shares of Common Stock being offered
by the Selling Stockholders are (i) the Dowslake Shares and (ii) those shares of Common Stock issuable to the Selling Stockholders upon
conversion of the Convertible Note or the Dowslake Note or upon exercise of the Warrant (the Warrant, together with the Dowslake Note
and the Convertible Note, the “Securities”). For additional information regarding the issuance of the Dowslake Shares or the
Securities, see “Private Placements” above. We are registering the shares of Common Stock to permit the Selling Stockholders
to offer the shares of the Common Stock for resale from time to time. The Company and an institutional investor or such institutional
investor’s affiliates have previously entered into certain securities purchase agreement, dated September 15, 2022 and common stock
purchase agreement, dated December 8, 2021. Except for the foregoing and the ownership of the Dowslake Shares or the Securities, the Selling
Stockholders have not had any material relationship with us within the past three years.

The table below lists the Selling Stockholders
and other information regarding the beneficial ownership (as determined under Section 13(d)