Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 1116

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1A
Chunk 1116
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 result in New Circle beneficially owning more than 4.99% of the Company's common stock.
    
   The purchase price per share to be purchased by New Circle shall equal either (i) the lowest volume-weighted average price for common stock either over a one-day trading period or 15 minutes after the number of intraday shares traded exceeds 500% of the shares included the purchase notice or one hour after the receipt of the purchase notice, or (ii) the volume-weighted average price for common stock for the three consecutive trading days commencing on the purchase notice date multiplied by 97.5%. The maximum number of shares the Company  may sell to New Circle on any single business day is the lesser of (i) the number of shares equal to 100% of the average daily trading volume of the common stock of the Company during the five trading days immediately preceding the purchase notice, and (ii) 400,000 shares of common stock.

     In connection with the CSPA, the Company issued to New Circle
    225,563 shares of common stock in the Company as commitment shares for the facility. At issuance, the
    225,563 shares of common stock had a fair value of
    $282 and were recorded to Interest expense and other in the Company's consolidated statement of operations and comprehensive loss. The Company determined that the right to sell additional shares represents a freestanding put option under ASC
    815, 
    Derivatives and Hedging, and as such, the financial instrument was classified as a derivative asset with a fair value of
    zero at inception of the CSPA on
     July 25, 2024.

   As of  December 31, 2024, including the commitment shares, the Company had issued 1,325,713 shares of its common stock to New Circle under the CSPA for gross proceeds totaling $1,679.﻿
    
   Alliance Global Partners (“AGP”) At Market Issuance Sales Agreement (the “ATM Agreement”) — On  September 12, 2024, the Company entered into the ATM and a Registration Rights Agreement with A.G.P. Under the terms and subject to the conditions of the ATM Agreement, the Company  may issue and sell through AGP the Company's common stock having an aggregate value offering price of up to $2,600 ("Placement Shares") from time to time through an "at-the-market" equity offering program. The Company has sole discretion to initiate