On May 10, 2024, AEye, Inc., a technology company listed on the Nasdaq Stock Market under the trading symbol LIDR, entered into a Securities Purchase Agreement with Dowslake Microsystems Corporation. Under the agreement, Dowslake will purchase 330,823 shares of AEye's common stock at $2.58 per share, totaling $853,523.34, and an unsecured convertible promissory note with a principal amount of $146,476.66, bringing the aggregate purchase price to $1,000,000.00. The transaction is scheduled to close on May 27, 2024. The note carries a five-year maturity with an interest rate tied to the Secured Overnight Financing Rate plus 1%, with interest payable quarterly or added to the principal. AEye has the option to prepay or convert the note into common stock, subject to certain limitations. The company has also committed to...Show More

On May 10, 2024, AEye, Inc., a technology company listed on the Nasdaq Stock Market under the trading symbol LIDR, entered into a Securities Purchase Agreement with Dowslake Microsystems Corporation. Under the agreement, Dowslake will purchase 330,823 shares of AEye's common stock at $2.58 per share, totaling $853,523.34, and an unsecured convertible promissory note with a principal amount of $146,476.66, bringing the aggregate purchase price to $1,000,000.00. The transaction is scheduled to close on May 27, 2024. The note carries a five-year maturity with an interest rate tied to the Secured Overnight Financing Rate plus 1%, with interest payable quarterly or added to the principal. AEye has the option to prepay or convert the note into common stock, subject to certain limitations. The company has also committed to registering the resale of the purchased shares and those issuable upon conversion of the note. Additionally, at AEye's 2024 Annual Meeting of Stockholders held on May 15, stockholders elected two Class III directors and ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, despite the prior dismissal of Deloitte & Touche LLP. However, a proposal to increase the number of shares issuable under AEye's 2021 Equity Incentive Plan was not approved.