Summary by Moomoo AI
On May 10, 2024, AEye, Inc., a technology company listed on the Nasdaq Stock Market under the trading symbol LIDR, entered into a Securities Purchase Agreement with Dowslake Microsystems Corporation. Under the agreement, Dowslake will purchase 330,823 shares of AEye's common stock at $2.58 per share, totaling $853,523.34, and an unsecured convertible promissory note with a principal amount of $146,476.66, bringing the aggregate purchase price to $1,000,000.00. The transaction is scheduled to close on May 27, 2024. The note carries a five-year maturity with an interest rate tied to the Secured Overnight Financing Rate plus 1%, with interest payable quarterly or added to the principal. AEye has the option to prepay or convert the note into common stock, subject to certain limitations. The company has also committed to...Show More