AEye enters $3.24M convertible note and warrant financing with institutional investor

AEye, Inc.

Issues senior unsecured convertible note of $3.24M at 7.4% OID (purchase price $3.00M), 7% interest, 18-month term.
Conversion price set at $2.22 per share; company may pay installments in cash or stock based on VWAP.
Warrant to purchase 805,263 shares at $2.22, exercisable after 6 months and 1 day for 4 years.
Note contains monthly installment redemption; equity issuance capped by Nasdaq Listing Rule 5635(d) unless shareholder approval obtained.
Company agrees to register resale of conversion and warrant shares under Registration Rights Agreement.

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