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AEye Files Form S-3 Shelf Registration Statement

DUBLIN, Calif. – Sept. 15, 2023 – AEye, Inc. (Nasdaq: LIDR), a global leader in adaptive, high performance lidar solutions, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”). Under the shelf registration statement, AEye may offer and sell, from time to time, up to $200 million in primary capital in one or more offerings over the next three years after the registration statement is declared effective by the SEC. The capital raises could include common stock, preferred stock, debt securities, warrants, rights, and/or units.

If AEye decides to raise capital in a future offering using the shelf registration statement, AEye will describe the specific details of that future offering in a prospectus supplement that is filed with the SEC. AEye is not selling any securities from the shelf registration statement at this time. AEye believes that a shelf registration on Form S-3 will provide it with the flexibility it may need to raise capital in the future.

“As we previously announced, AEye is in the process of responding to six RFQs through Continental and has been named as a finalist for two of the six RFQs; we expect those award decisions by the end of the year. We are also bidding on other high-volume production orders and our pipeline of RFQs represents a sizable revenue opportunity for AEye,” said Matt Fisch, Chief Executive Officer of AEye.

“Having made significant progress in streamlining our cost structure while maintaining a healthy balance sheet, we are in good shape to execute our near-term objectives. Looking ahead, we believe having the ability to access additional capital is a prudent move to support the seamless execution of major contract awards.”

The registration statement on Form S-3 has been filed with the SEC but is not yet effective. These securities may not be sold nor may offers to buy be accepted under the Form S-3 registration statement prior to the time the Form S-3 registration statement becomes effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy the securities that are proposed to be registered on the Form S-3, nor shall there be any sale of such securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of securities will occur solely by means of the prospectus included in the registration statement and one or more prospectus supplements that would be issued at the time of the offering.

About AEye

AEye’s 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. AEye has a global presence through its offices in Germany, Korea, and the United States.