Summary by Futu AI
AEye, Inc., a company listed on Nasdaq under the symbol LIDR, has filed a prospectus supplement with the SEC on September 3, 2024, detailing the offer and resale of up to 25,000,000 shares of common stock by New Circle Principal Investments LLC. The shares may be sold pursuant to a share purchase agreement dated July 25, 2024, and include 225,563 commitment shares issued to New Circle. AEye will not sell any securities or receive proceeds from New Circle's sale but may receive up to $50 million from future sales to New Circle under the agreement. The supplement also updates information from a Form 8-K filed on September 3, 2024, and should be read in conjunction with the original prospectus dated August 21, 2024. AEye is an emerging growth company and is subject to reduced reporting requirements. The company's stock closed at $1.25 per share on August 30, 2024. AEye has also been involved in a legal dispute regarding a lease termination, which could potentially impact its financial condition if not resolved favorably.
