secwatch.observer — SEC 8-K summary
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Issuer:     AEye, Inc. (LIDR)
CIK:        0001818644
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0000947871-24-000485
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 3.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AEye raises $1M via stock and convertible note from Dowslake; shareholder vote fails to increase equity plan
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- Entered securities purchase agreement with Dowslake Microsystems for $1M: 330,823 shares at $2.58/share ($853,523) and a $146,476.66 convertible note.
- Convertible note bears interest at SOFR+1%, matures in 5 years, convertible into common at closing price at conversion; subject to 19.99% ownership cap.
- At annual meeting, directors Gottschalk and Husby elected; Deloitte ratification approved; proposal to increase 2021 equity plan by 950,000 shares failed.
- Financing expected to close May 27, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818644/000094787124000485/0000947871-24-000485-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818644/000094787124000485/ss3392133_8k.htm
  HTML page:      https://secwatch.observer/filing/0000947871-24-000485

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer