Opening the filing
8-K
Item 1.01.
Entry into a Material Definitive Agreement.
On September 15, 2026, AEye, Inc. (the “ Company ”)
entered into an At Market Issuance Sales Agreement (the “ Sales Agreement ”) with A.G.P./Alliance Global Partners (“ A.G.P. ”).
In accordance with the terms of the Sales Agreement, the Company may offer and sell from time to time through A.G.P., acting as sales agent, the Company’s common stock having an aggregate offering price of up to $50,000,000 (the “ Placement Shares ”). The Placement Shares will be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-296038). The Company filed a prospectus supplement dated September 15, 2026, with the Securities and Exchange Commission in connection with the offer and sale of the Placement Shares.
The Company intends to use the net proceeds from the sale of the Placement Shares to fund working capital and general corporate purposes to support its future growth, which may include research and development, expansion of its commercial and business development activities, including in the aerospace and defense and infrastructure markets, capital expenditures, and general and administrative expenses.
Under the terms and subject to the conditions of the Sales Agreement, the Company will set the parameters for the sale of shares, including the number or dollar amount of Placement Shares to be issued, the time period during which sales are requested to be made, any limitation on the number or dollar amount of Placement Shares that may be sold in any one trading day and any minimum price below which sales may not be made. Sales of Placement Shares, if any, will be made by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on or through The Nasdaq Capital Market, the trading market for the Company’s common stock, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices, and/or any other method permitted by law. The Company is under no obligation to sell any Placement Shares under the Sales Agreement and may at any time suspend offers and sales of Placement Shares under the Sales Agreement.
The Company will pay A.G.P. a cash commission rate up to 3.0% of the gross proceeds from the sale of Placement Shares sold pursuant to the Sales Agreement. The Company will also reimburse A.G.P. for certain specified expenses in connection with this offering, including reasonable out-of-pocket costs and expenses, including legal fees and related expenses, in an amount not to exceed (a) $50,000 in connection with the execution and implementation of the Sales Agreement and (b) up to $5,000 per due diligence update session thereafter pursuant to the terms of the Sales Agreement, not to exceed $15,000 per fiscal year, in connection with any periodic due diligence review conducted by A.G.P. or its representatives in connection with the offering. In connection with the offering, Craig-Hallum Capital Group LLC (“ Craig-Hallum ”) is acting as a financial advisor, for which the Company will pay Craig-Hallum advisory fees up to 1.0% of the gross proceeds from each sale of Placement Shares pursuant to the Sales Agreement.
Item 1.02.
Termination of a Material Definitive Agreement.
On September 15, 2026, in connection with its entry into the Sales Agreement described in Item 1.01 above, the Company and A.G.P. mutually agreed to terminate, effective upon the execution of the Sales Agreement, the At Market Issuance Sales Agreement, dated September 12, 2024, between the Company and A.G.P., as amended (the “Prior Sales Agreement”), pursuant to which the Company was entitled to offer and sell shares of its common stock from time to time through A.G.P., acting as sales agent. The Company did not incur any early termination penalties in connection with the termination of the Prior Sales Agreement.
Item 9.01.
Financial Statement and Exhibits.