Summary by Futu AI
AEye, Inc., a company listed on Nasdaq under the symbol LIDR, has filed a prospectus supplement with the Securities and Exchange Commission (SEC) on September 13, 2024. This supplement updates information related to the resale of up to 25,000,000 shares of common stock by New Circle Principal Investments LLC, as per a previous agreement. AEye may receive up to $50 million from sales of its common stock to New Circle under the Purchase Agreement. Additionally, AEye has entered into an At Market Issuance Sales Agreement with A.G.P./Alliance Global Partners, which allows the sale of common stock worth up to $2.6 million. The proceeds are intended for working capital and corporate purposes, including product enhancements and market expansion in China. The sales agreement specifies that AEye will pay A.G.P. a commission of up to 3.0% on gross proceeds and reimburse certain expenses. WestPark Capital, Inc. is acting as a financial advisor for the offering. The offering may continue for up to 36 months or until all shares are sold or the agreement is terminated.