AEye, Inc., a Delaware-based company specializing in high-performance active lidar systems for the automotive and industrial sectors, has filed a Form S-1 Registration Statement with the SEC on August 5, 2024. The filing pertains to a share purchase agreement with New Circle Principal Investments LLC, under which AEye may sell up to $50 million of its common stock. The agreement grants AEye the right to direct New Circle to purchase shares at its discretion, subject to certain conditions, and has already resulted in the issuance of 225,563 shares to New Circle as part of the purchase commitment. AEye intends to use any proceeds from the sale of common stock for working capital and general corporate purposes. Despite a history of losses and...Show More

AEye, Inc., a Delaware-based company specializing in high-performance active lidar systems for the automotive and industrial sectors, has filed a Form S-1 Registration Statement with the SEC on August 5, 2024. The filing pertains to a share purchase agreement with New Circle Principal Investments LLC, under which AEye may sell up to $50 million of its common stock. The agreement grants AEye the right to direct New Circle to purchase shares at its discretion, subject to certain conditions, and has already resulted in the issuance of 225,563 shares to New Circle as part of the purchase commitment. AEye intends to use any proceeds from the sale of common stock for working capital and general corporate purposes. Despite a history of losses and the expectation of continued losses in the near term, AEye is actively pursuing a revised strategic plan aimed at commercializing automotive products and reducing operating expenses. This includes new partnerships, such as with LITEON following the discontinuation of a joint lidar development program with Continental, and efforts to penetrate the Chinese market. AEye's common stock is traded on The Nasdaq Stock Market under the ticker 'LIDR', and the company has stated that it does not expect to pay cash dividends on its common stock in the foreseeable future.