On December 26, 2023, AEye, Inc. implemented a one-for-thirty reverse stock split of its common stock, which became effective at 4:09 p.m. Eastern Time. The reverse stock split was approved by the company's board of directors following authorization from stockholders at a special meeting held on December 12, 2023. As a result, every thirty shares of the issued common stock were consolidated into one share. The common stock began trading on a split-adjusted basis on December 27, 2023, under the new CUSIP number but retained the trading symbol 'LIDR' on The Nasdaq Capital Market. No fractional shares were issued; instead, fractional shares resulting from the reverse stock split were aggregated and sold on the open market, with shareholders entitled to receive a...Show More

On December 26, 2023, AEye, Inc. implemented a one-for-thirty reverse stock split of its common stock, which became effective at 4:09 p.m. Eastern Time. The reverse stock split was approved by the company's board of directors following authorization from stockholders at a special meeting held on December 12, 2023. As a result, every thirty shares of the issued common stock were consolidated into one share. The common stock began trading on a split-adjusted basis on December 27, 2023, under the new CUSIP number but retained the trading symbol 'LIDR' on The Nasdaq Capital Market. No fractional shares were issued; instead, fractional shares resulting from the reverse stock split were aggregated and sold on the open market, with shareholders entitled to receive a cash payment equivalent to their pro rata share of the total proceeds, net of any associated costs. The reverse stock split also led to proportional adjustments in the number of shares reserved for issuance under various company equity plans, the number of shares subject to outstanding awards, the exercise prices of options, and the number of shares issuable upon exercise or conversion of outstanding warrants and convertible securities. The company's publicly traded warrants, under the symbol 'LIDRW', will also see a proportional decrease in the number of shares issuable upon exercise.