Company: LIDRW
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0000947871-25-000443
Chunk: 0

Company: AEye, Inc.
Filing Date: 2025-05-01
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On April 28, 2025 (the “ Effective Date”),
AEye, Inc. (the “ Company”) and its subsidiary, AEye Technologies, Inc. (together with the Company, the “ Company Parties”),
entered into a Settlement Agreement (the “ Settlement Agreement”) with IGEP Park Place, LLC (the “ Landlord”) to
resolve all outstanding disputes related to the Company’s prior office lease at One Park Place in Dublin, California, and the related
litigation under IGEP Park Place, LLC v. AEye, Inc., et al., Case No. 24-CV-088829, pending in Alameda Superior Court.

Under the terms of the Settlement Agreement,
the Company Parties agreed to pay the Landlord $1.4 million in cash within 14 days of the Effective Date. This payment is in addition
to the $2.15 million previously drawn by the Landlord under a letter of credit issued in connection with the lease. In addition, within
14 days of the Effective Date, the Company will enter into a warrant agreement, pursuant to which the Company will issue to the Landlord
a warrant to purchase up to 350,000 shares of the Company’s common stock at an initial exercise price of $2.22 per share. The warrant
will be exercisable on or after August 31, 2025, and will expire five years after the initial exercisability date.

Pursuant to the terms of the Settlement Agreement,
upon receipt of the settlement payment and execution of the warrant agreement, the Landlord will file a request for dismissal with prejudice
of all claims in the litigation. The Settlement Agreement provides for a mutual release of all claims relating to the lease, the letter
of credit, and the premises, and contains customary terms and conditions, including that the settlement does not constitute an admission
of liability by any party.

The foregoing summary of the Settlement Agreement
does not purport to be complete and is qualified in its entirety by reference to the full text of the Settlement Agreement, a copy of
which is attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein in its entirety by reference.