AEye Shares Jump After Securing $3.2 Million in Convertible Note Financing
AEye (LIDR) shares surged nearly 28% in recent Friday trading after the company said it signed a securities purchase agreement with a certain institutional investor, securing about $3.2 million in new funding.
The company will issue a senior unsecured convertible promissory note to the investor under the agreement, which is subject to certain customary closing conditions.
The 18-month note will accrue 7% interest annually and is convertible into common shares at a conversion price of $2.22 per share, AEye said in a US Securities and Exchange Commission filing.
Price: 2.26, Change: +0.49, Percent Change: +27.63
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