AEye in $50M common stock purchase agreement With New Circle

AEye announced that it has entered into a common stock purchase agreement with New Circle Principal Investments or New Circle , an affiliate of New Circle Capital. Under the terms of the Purchase Agreement, AEye will have the right, but not the obligation, to sell to New Circle up to $50M of AEye’s common stock from time-to-time over the 36-month term of the Purchase Agreement …. Matt Fisch, AEye CEO, said, “We are pleased to announce this stock purchase agreement with New Circle, which could significantly extend our cash runway and enable us to advance our strategic growth initiatives. The establishment of this facility is timely as we have recently reached key performance milestones with our ultra-long range, high-speed lidar product, Apollo, which we believe is the most compact lidar solution for the $5 B ADAS market. Apollo continues to attract significant interest from partners and OEMs who are seeking a value-driven, ultra-long-range lidar solution that addresses safety at speed. Apollo can achieve these standards without requiring OEMs to sacrifice design due to the product’s small form factor.