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AEye Announces Common Stock Purchase Agreement With New Circle for up to $50 Million

Jul 29, 2024•almost 2 years ago

Contract Type

agreement

PleasantonOtherSoftware

Description

AEye, Inc. has entered into a common stock purchase agreement with New Circle Principal Investments LLC for up to $50 million. The agreement provides AEye with the right to sell its common stock to New Circle over a 36-month term, which could significantly extend AEye's cash runway and enable the advancement of strategic growth initiatives.

Company Information

Company

AEye, Inc.

Location

4670 Willow Rd, 125

Pleasanton, California, United States

About

AEye’s (NASDAQ: LIDR) unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, and logistics applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance.

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months