<SEC-DOCUMENT>0000947871-24-000548.txt : 20240531
<SEC-HEADER>0000947871-24-000548.hdr.sgml : 20240531
<ACCEPTANCE-DATETIME>20240531104916
ACCESSION NUMBER:		0000947871-24-000548
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20240531
DATE AS OF CHANGE:		20240531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEye, Inc.
		CENTRAL INDEX KEY:			0001818644
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				371827430
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-274546
		FILM NUMBER:		241008202

	BUSINESS ADDRESS:	
		STREET 1:		ONE PARK PLACE, SUITE 200
		CITY:			DUBLIN
		STATE:			CA
		ZIP:			94568
		BUSINESS PHONE:		925-400-4366

	MAIL ADDRESS:	
		STREET 1:		ONE PARK PLACE, SUITE 200
		CITY:			DUBLIN
		STATE:			CA
		ZIP:			94568

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CF Finance Acquisition Corp. III
		DATE OF NAME CHANGE:	20200717
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>ss3448291_424b5.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(5)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333-274546</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>PROSPECTUS SUPPLEMENT</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>(To Prospectus dated September 15, 2023)</I></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 16pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 92px; width: 336px"></FONT></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">AEYE, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 14pt">727,706
Shares of Common Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">_______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We are offering 727,706 shares of our common stock, par value $0.0001
per share, in a registered direct offering to an institutional investor (the &ldquo;Investor&rdquo;) pursuant to this prospectus supplement
and the accompanying prospectus. <FONT STYLE="letter-spacing: 0.2pt">The offering price for each share of common stock is $3.4480. </FONT>The
share purchase price reflects the average Nasdaq Official Closing Price of our common stock for the preceding five trading days on the
day pricing was agreed. The shares of common stock were offered directly to the Investor without a placement agent, underwriter, broker
or dealer.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: 0.2pt">The shares of common stock
offered hereto have been registered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-274546), which
was declared effective on September 26, 2023. For a more detailed description of our shares of common stock, see the section
entitled &ldquo;Description of Our Common Stock&rdquo; beginning on page&nbsp;S-12. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Our common stock is listed on The Nasdaq Capital Market under the
symbol &ldquo;LIDR.&rdquo; The last reported sale price of our common stock on The Nasdaq Capital Market on May 29, 2024 was $4.31 per
share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">You should read this prospectus supplement in
conjunction with the accompanying base prospectus, including any supplements and amendments thereto. This prospectus supplement is qualified
by reference to the accompanying base prospectus except to the extent that the information in this prospectus supplement supersedes the
information contained in the accompanying base prospectus. This prospectus supplement is not complete without, and may not be delivered
or utilized except in connection with, the accompanying base prospectus, including any supplements and amendments thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We are an &ldquo;emerging growth company&rdquo; as defined under
the federal securities laws, and as such, have elected to comply with certain reduced public company reporting requirements.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Per<BR>
Share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; width: 56%; padding-left: 10pt; text-indent: -10pt">Public offering price</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%">$</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 6%; text-align: right">3.4480</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 9%">$</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%; text-align: right">2,509,130.29</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">Proceeds, before expenses, to us</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">$</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">3.4480</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">$</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">2,509,130.29</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><B>Investing in our securities involves a high
degree of risk. See the &ldquo;Risk Factors&rdquo; section beginning on page S-5 of this prospectus supplement and the documents incorporated
by reference into this prospectus supplement before investing in our securities</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Neither the Securities and Exchange Commission nor
any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying
base prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt"><B>We expect that
delivery of the shares of common stock being offered pursuant to this prospectus supplement and the accompanying prospectus will be made
on or about May 31, 2024.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">The date of this prospectus supplement
is May 29, 2024</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="toc1"></A>Table of Contents<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><SUP></SUP></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt; text-align: left; font-weight: bold"><FONT STYLE="font-size: 9.5pt">PROSPECTUS SUPPLEMENT </FONT></TD>
    <TD STYLE="width: 51%; padding-right: 0.7pt; text-align: right; font-weight: bold">&nbsp;&nbsp;Page</TD></TR>
  </TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#about2">ABOUT THIS PROSPECTUS SUPPLEMENT</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">S-ii</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#special2">SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-iv</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#prospectus2">PROSPECTUS SUPPLEMENT SUMMARY</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#risk2">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#use2">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#dividend2"><FONT STYLE="text-transform: uppercase">Dividend Policy</FONT></A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-9</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#dilution2">DILUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-10</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#description2">DESCRIPTION OF OUR COMMON STOCK</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-12</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#plan2">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#legal2">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#experts2">EXPERTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.5in"><A HREF="#incorporation2">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-top: 0in; padding-left: 0.5in"><A HREF="#where2">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in">S-15</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>pROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; padding-right: 0.3in; text-indent: 0in"><A HREF="#About"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABOUT THIS PROSPECTUS&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; width: 13%; padding-right: 0; padding-bottom: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#caution"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#prospectus"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS SUMMARY&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#risk"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK FACTORS&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#Use"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE OF PROCEEDS&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#description"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION OF SECURITIES WE MAY OFFER&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#desc"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION
    OF CAPITAL STOCK</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#Plan"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">23</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#Legal"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#Experts"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#Where">WHERE YOU CAN FIND MORE INFORMATION</A>&#9;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.3in; text-indent: 0in"><A HREF="#Information"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INFORMATION INCORPORATED BY REFERENCE&#9;</FONT></A></TD>
    <TD STYLE="text-align: right; padding-right: 0; padding-bottom: 0; text-indent: 0in">27</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.2in"><A NAME="about2"></A>ABOUT THIS PROSPECTUS
SUPPLEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><I>You should carefully read this entire prospectus
supplement and the accompanying base prospectus, including the information included and referred to under &ldquo;Risk Factors&rdquo; below,
the information incorporated by reference in this prospectus supplement and in the accompanying base prospectus, and the financial statements
and the other information incorporated by reference in the accompanying base prospectus, before making an investment decision.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">This prospectus supplement and the accompanying
base prospectus form part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or SEC, using
a &ldquo;shelf&rdquo; registration process. This document contains two parts. The first part consists of this prospectus supplement, which
provides you with specific information about this offering and also adds to and updates information contained in the accompanying base
prospectus and the documents incorporated by reference herein. The second part, the accompanying base prospectus, provides more general
information, some of which may not apply to this offering. Generally, when we refer only to the &ldquo;prospectus,&rdquo; we are referring
to both parts combined. This prospectus supplement may add, update, or change information contained in the accompanying base prospectus.
To the extent that any statement we make in this prospectus supplement is inconsistent with statements made in the accompanying base prospectus
or any documents incorporated by reference herein or therein, the statements made in this prospectus supplement will be deemed to modify
or supersede those made in the accompanying base prospectus and such documents incorporated by reference herein and therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Unless the context otherwise requires, the terms
&ldquo;AEye, Inc.,&rdquo; &ldquo;AEye,&rdquo; &ldquo;Company,&rdquo; &ldquo;our company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or
&ldquo;our&rdquo; refer to AEye, Inc., a Delaware corporation, and its subsidiaries. When we refer to &ldquo;you&rdquo; we mean the purchaser
or potential purchaser of the shares of common stock offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">You should rely only on the information contained
in or incorporated by reference in this prospectus supplement, the accompanying base prospectus, the documents incorporated by reference
herein and therein and any free writing prospectus that we may authorize for use in connection with this offering. We have not authorized
anyone to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely
on it. We are not making an offer to sell the common stock in any jurisdiction where the offer or sale is not permitted or in which the
person making that offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make an offer or solicitation.
You should assume that the information appearing in this prospectus supplement, the accompanying base prospectus, the documents incorporated
by reference herein and therein and any free writing prospectus that we have authorized for use in connection with this offering is accurate
only as of the date of those respective documents. Our business, financial condition, results of operations and prospects may have changed
since those dates. You should carefully read this entire prospectus supplement and the accompanying base prospectus, including the information
included and referred to under &ldquo;Risk Factors&rdquo; below, the information incorporated by reference in this prospectus supplement
and in the accompanying base prospectus, and the financial statements and the other information incorporated by reference in the accompanying
base prospectus, before making an investment decision. You should also read and consider the information in the documents to which we
have referred you in the section of this prospectus supplement entitled &ldquo;Incorporation of Certain Information by Reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">You should not consider any information in
this prospectus supplement or the accompanying prospectus to be investment, legal, or tax advice. You should consult your own counsel,
accountants, and other advisers for legal, tax, business, financial, and related advice regarding the purchase of the common stock offered
by this prospectus supplement. If the description of the offering varies between this prospectus supplement and the accompanying prospectus,
you should rely on the information contained in this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">This prospectus supplement and the accompanying
base prospectus contain summaries of certain provisions contained in some of the documents described herein, but reference is made to
the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of
some of the documents referred to herein have been or will be filed as exhibits to the registration statement of which this prospectus
supplement is a part or as exhibits to documents incorporated by reference herein, and you may obtain copies of those documents as described
below under the headings &ldquo;Where You Can Find More Information&rdquo; and &ldquo;Incorporation of Certain Information by Reference.&rdquo;
We note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that
is incorporated by reference herein were made solely for the benefit of the parties to such agreement, including, in some cases, for the
purpose of allocating risk among the parties to such agreement, and should not be deemed to be a representation, warranty or covenant
to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations,
warranties and covenants should not be relied on as accurately representing the current state of our affairs.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The industry and market data and other statistical
information contained in the documents we incorporate by reference are based on our own estimates, independent publications, government
publications, reports by market research firms or other published independent sources, and, in each case, are believed by us to be reasonable
estimates. Although we believe these sources are reliable, we have not independently verified the information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">This prospectus,
including the information incorporated by reference into this prospectus, include trademarks, service marks and trade names owned by us
or others. All trademarks, service marks and trade names included or incorporated by reference in this prospectus or any related free
writing prospectuses are the property of their respective owners.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

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<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: -4.5pt"><A NAME="special2"></A>SPECIAL NOTE
REGARDING FORWARD-LOOKING INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">This prospectus supplement, including the sections
entitled &ldquo;Prospectus Supplement Summary&rdquo; and &ldquo;Risk Factors,&rdquo; the accompanying base prospectus, and the documents
incorporated by reference herein and therein contain forward-looking statements within the meaning of Section&nbsp;27A of the Securities
Act of 1933, as amended, or the Securities Act, Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act,
the Private Securities Litigation Reform Act of 1995, or the PSLRA, or in releases made by the SEC. These cautionary statements are being
made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the &ldquo;safe harbor&rdquo;
provisions of such laws. All statements other than statements of historical fact contained in or incorporated by reference into this prospectus
supplement or the accompanying base prospectus, including statements regarding our future operating results and financial position, business
strategy, and plans and objectives for future operations, are forward-looking statements. Forward-looking statements include, without
limitation, statements regarding:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, and plans;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our product development timeline, third-party suppliers, cost of development, and expected start of commercial production;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>the implementation, market acceptance, and success of our business model;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our ability to scale in a cost-effective manner;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>developments and projections relating to our competitors and industry;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>the impact of health epidemics, including the lingering effects of the COVID-19 pandemic, on our business and the actions we may take
in response thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>the effect of global events, such as the Russia&rsquo;s invasion of Ukraine, on the U.S. and global economies, our business, our employees,
results of operations, financial condition, demand for our products, and partners&rsquo; businesses;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>expectations regarding the time during which we will be an emerging growth company under the JOBS Act;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our future capital requirements and sources and uses of cash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our ability to obtain funding for our operations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>our business, business relationships, expansion plans, and opportunities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&bull;</TD><TD>the outcome of any known and unknown litigation and regulatory proceedings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Because forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should
not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking
statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements.
Moreover, we operate in an evolving environment. Additionally, new risk factors and uncertainties may emerge from time to time, and it
is not possible for management to predict all risk factors and uncertainties. As a result of these factors, the forward-looking statements
in this prospectus supplement, the accompanying base prospectus, and the documents incorporated by reference herein may not prove to be
accurate. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein,
whether as a result of any new information, future events, changed circumstances, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">In many cases, you can identify forward-looking
statements by terms such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;could,&rdquo; &ldquo;intends,&rdquo; &ldquo;target,&rdquo; &ldquo;projects,&rdquo; &ldquo;contemplates,&rdquo; &ldquo;believes,&rdquo;
&ldquo;estimates,&rdquo; &ldquo;predicts,&rdquo; &ldquo;potential&rdquo; or &ldquo;continue&rdquo; or the negative of these terms or other
similar expressions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The forward-looking statements contained in
or incorporated by reference into this prospectus supplement or the accompanying base prospectus reflect our views as of the date of this
prospectus supplement about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause
our actual results, performance or achievements to differ significantly from those expressed or implied in any forward-looking statement.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events,
results, performance or achievements. A number of important factors could cause actual results to differ materially from those indicated
by the forward-looking statements, including, without limitation, those factors described in &ldquo;Risk Factors.&rdquo; All readers are
cautioned that the forward-looking statements contained in this prospectus supplement and in the documents incorporated by reference into
this prospectus supplement are not guarantees of future performance, and we cannot assure any reader that such statements will be realized
or that the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied
in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">You are urged to consider these factors carefully
in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. All of
the forward-looking statements we have included in or incorporated by reference into this prospectus supplement or the accompanying base
prospectus are based on information available to us on the date of the applicable document. We undertake no obligation to publicly update
or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as otherwise required
by law. Thus, you should not assume that our silence over time means that actual events are bearing out as expressed or implied in such
forward-looking statements. You should read this prospectus supplement and the accompanying base prospectus, together with the documents
we have filed with the SEC that are incorporated by reference and any free writing prospectus that we may authorize for use in connection
with this offering completely and with the understanding that our actual future results may be materially different from what we expect.
We qualify all of the forward-looking statements in the foregoing documents by these cautionary statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="padding: 8; border: Black 1pt solid; width: 100%">&nbsp;<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.2in"><A NAME="prospectus2"></A>PROSPECTUS SUPPLEMENT
SUMMARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in"><I>The following summary of our business highlights
some of the information contained elsewhere in or incorporated by reference into this prospectus supplement or the accompanying base prospectus.
Because this is only a summary, however, it does not contain all of the information that may be important to you. You should carefully
read this prospectus supplement and the accompanying base prospectus, including the documents incorporated by reference, which are described
under &ldquo;Incorporation of Certain Information by Reference&rdquo; in this prospectus supplement and the accompanying base prospectus.
You should also carefully consider the matters discussed in the section in this prospectus supplement entitled &ldquo;Risk Factors&rdquo;
and in the accompanying base prospectus and in other documents incorporated herein by reference. Moreover, the information contained in
this prospectus supplement includes &ldquo;forward-looking statements,&rdquo; which are based on current expectations and beliefs concerning
future developments and their potential effects on us. There can be no assurance that future developments actually affecting us will be
those anticipated. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Overview </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">AEye is a provider of high-performance, active
lidar systems technology for vehicle autonomy, advanced driver-assistance systems, or ADAS, and robotic vision applications. AEye has
developed an artificial intelligence technology that enables adaptive &ldquo;intelligent sensing,&rdquo; differentiating AEye in the marketplace
from its competition. AEye&rsquo;s proprietary software-definable 4Sight<FONT STYLE="font-size: 8.5pt"><SUP>TM</SUP></FONT> Intelligent
Sensing Platform combines solid-state active lidar, an optionally fused low-light HD camera, and integrated deterministic artificial intelligence
to capture more intelligent information with less data, enabling faster, more accurate, and more reliable perception of the surroundings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">AEye was founded in 2013 with the goal of creating
deterministic AI-driven sensing system that performs better than the human eye and visual cortex. Experience developing mission-critical
targeting systems for fighter jets and ground troops on behalf of the U.S. military provided them with the background to develop a differentiated
approach to visual sensing. While traditional sensing systems passively collect data, our active 4Sight<SUP>TM</SUP> Intelligent Sensing
Platform leverages principles from automated targeting systems and biomimicry to scan the environment, while intelligently focusing on
what matters in order to enable safer, smarter, and faster decisions in complex scenarios. From its inception, AEye&rsquo;s culture drew
from esteemed scientists and electro-optics engineers from the National Aeronautics and Space Administration, or NASA, Lockheed Martin
Corporation, Northrop Grumman Corporation, the U.S. Air Force, and the Defense Advanced Research Projects Agency, or DARPA, to create
the highest performing sensing and perception system for the most challenging situations, ensuring the highest levels of safety for autonomous
driving.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As a result, AEye&rsquo;s adaptive lidar is
designed to enable higher levels of autonomy and functionality &mdash; SAE Levels 2 through 5 &mdash; with the goal of optimizing performance,
power, and reducing cost. AEye&rsquo;s 4Sight<SUP>TM</SUP> Intelligent Sensing Platform is software-definable and network-optimized, and
leverages deterministic artificial intelligence at the edge. AEye has made substantial investments in its R&amp;D processes and deliver
value to its customers through a combination of sales and direct channels. AEye performs the majority of our R&amp;D activities in its
56,549 square foot corporate headquarters in Dublin, California. The modular design facilitates product hardware updates as technologies
evolve, and its small size and modest heat dissipation enable very flexible placement options on the interior or exterior of a vehicle.
4Sight also leverages a common architecture to create application-specific products across the Automotive market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">AEye&rsquo;s systems-based approach encourages
partnership from the well-established automotive supply chain, including original equipment manufacturers, or OEMs, as well as Tier 1
and Tier 2 OEM suppliers. There is strong alignment between AEye and AEye&rsquo;s partners given what is required to produce high-performance
automotive grade products at scale, including quality, reliability, and affordability. AEye&rsquo;s Tier 1 partners will add value with
OEM customers through industrialization, manufacturing, integration, sales, marketing, product liability, and warranty. AEye&rsquo;s Tier
2 partners will provide automotive-grade sub-components, which are used not only in automotive lidar for ADAS use cases, but also for
AEye&rsquo;s products to be sold in the Industrial market. AEye expects the result will be a high-quality, high-performance product at
the right price point, which AEye believes to be a key enabler in accelerating adoption of lidar across various markets in Automotive
and beyond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In pursuing this strategy, AEye has partnered,
and will continue seeking partnerships, with leading Tier 1 automotive suppliers. It is anticipated that AEye&rsquo;s Tier 1 partners
will bid for long range lidar series production awards with OEMs and that these awards are expected to represent a substantial portion
of AEye&rsquo;s future revenues. There is no guarantee that this Tier 1 partnership strategy will be successful, for example, in late
2023, Continental informed AEye that they intended to discontinue the joint lidar development program due to corporatewide restructuring
and expense reduction efforts. If AEye fails to find a replacement Tier 1 automotive supplier, it will have a material and adverse effect
on the business which is predicated on licensing our lidar designs and other intellectual property to our Tier 1 partners. The main markets
for lidar, including Automotive and Industrial, are projected to see significant growth in both the near and long term. AEye believes
this expected growth will allow AEye to capture significant market share as well as pursue specialization opportunities like highway autonomous
driving applications that benefit from AEye&rsquo;s products. AEye expects that lidar will be a required sensing solution across many
end markets, and we intend to be the leading solutions provider in these spaces.</P>

</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="padding: 8; border: Black 1pt solid; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Background</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">On February&nbsp;17, 2021, AEye Technologies,
Inc., then known as AEye, Inc., or AEye Technologies, entered into the Agreement and Plan of Merger, or the Merger Agreement, with CF
Finance Acquisition Corp. III, a Delaware corporation, or CF III, now known as AEye, Inc., and Meliora Merger Sub, Inc., a Delaware corporation
and a wholly owned subsidiary of CF III, or Merger Sub. Based on CF III&rsquo;s business activities, it was a &ldquo;shell company&rdquo;
as defined under the Securities Exchange Act of 1934, as amended, or the &ldquo;Exchange Act. On August&nbsp;16, 2021, or the Closing
Date, CF III closed the business combination, or the Merger, and together with the other transactions contemplated by the Merger Agreement,
the Transactions, pursuant to the Merger Agreement, and Merger Sub was merged with and into AEye Technologies with AEye Technologies surviving
the merger as a wholly owned subsidiary of CF III. On the Closing Date, and in connection with the closing of the Transactions, or the
Closing, CF III changed its name to AEye, Inc. Unless otherwise stated or unless the context otherwise requires, the terms &ldquo;we,&rdquo;
&ldquo;us,&rdquo; &ldquo;our,&rdquo; &ldquo;AEye,&rdquo; &ldquo;Company,&rdquo; and &ldquo;post-combination entity&rdquo; refer to AEye,
Inc. and its subsidiaries following the consummation of the Merger or to AEye Technologies and its subsidiaries prior to the consummation
of the Merger.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Corporate Information </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">CF III was incorporated in the State of Delaware
in March 2016 for the purpose of effecting a transaction such as the Merger and completed its initial public offering, or the IPO, in
November 2020. In August 2021, Merger Sub merged with and into AEye Technologies, with AEye Technologies surviving the merger as a wholly
owned subsidiary of CF III. In connection with the Merger, we changed our name to AEye, Inc. Our principal executive offices are located
at One Park Place, Suite 200, Dublin, CA 94568. Our telephone number is (925) 400-4366. Our website address is <I>www.aeye.ai</I>. Information
contained on our website or connected thereto does not constitute part of, and is not incorporated by reference into, this prospectus
or the registration statement of which it forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Recent Developments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>Stock Purchase Agreement </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On March 29, 2024, we entered into a Stock Purchase
Agreement with an institutional investor (the &ldquo;Investor&rdquo;) pursuant to which we agreed to sell the Investor an aggregate of
727,706 shares of common stock in a registered direct offering for $3.4480 per share (the average of Nasdaq Official Closing Price of
our common stock for the five trading days preceding the date of the Stock Purchase Agreement) for gross proceeds of approximately $2.51
million, before deducting offering expenses payable by us. We intend to use the net proceeds from this offering for <FONT STYLE="background-color: white">working
capital and general corporate purposes.</FONT> We are offering the <FONT STYLE="letter-spacing: 0.2pt">shares of common stock to the Investor
pursuant to this prospectus supplement and the accompanying prospectus. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>Reverse Stock Split</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">On December 26, 2023, we filed a Certificate
of Amendment to the Company&rsquo;s Second Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State
of the State of Delaware to effect a one-for-thirty reverse stock split (the &ldquo;Reverse Stock Split&rdquo;) of the issued shares
of the Company&rsquo;s common stock, par value $0.0001 per share (the &ldquo;Common Stock&rdquo;). The Reverse Stock Split became effective
on December 26, 2023. The Company&rsquo;s Common Stock began trading on a split-adjusted basis on The Nasdaq Capital Market at the opening
of trading on December 27, 2023.&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Implications of Being an Emerging Growth Company and a Smaller
Reporting Company </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">We are an emerging growth company as defined
in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. We will remain an emerging growth company under the JOBS Act until
the earliest of (a)&nbsp;the last day of our first fiscal year following the fifth anniversary of CF III&rsquo;s IPO, which is December
31, 2026, (b)&nbsp;the last date of our fiscal year in which we have total annual gross revenue of $1.235 billion or more during such
fiscal year, (c)&nbsp;the date on which we are deemed to be a &ldquo;large accelerated filer&rdquo; under the rules of the SEC with at
least $700.0&nbsp;million of outstanding securities held by non-affiliates, or (d)&nbsp;the date on which we have issued more than $1.0&nbsp;billion
in non-convertible debt securities during the previous three years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are also a &ldquo;smaller reporting company&rdquo;
as defined in Rule 12b-2 under the Exchange Act. We may continue to be a smaller reporting company even after we are no longer an emerging
growth company. We may take advantage of certain of the scaled disclosures available to smaller reporting companies and will be able to
take advantage of these scaled disclosures for so long as market value of our common stock held by non-affiliates is less than $250.0&nbsp;million
measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0&nbsp;million during the most
recently completed fiscal year and the market value of our common stock held by non-affiliates is less than $700.0&nbsp;million measured
on the last business day of our second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">&nbsp;</P>

</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="padding: 8; border: Black 1pt solid; width: 100%">As a result, the information in this prospectus supplement,
the accompanying base prospectus or the documents incorporated by reference herein that we provide to our investors in the future may
be different than what you might receive from other public reporting companies.

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>









</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<DIV STYLE="padding: 8; border: Black 1pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0in"><B>The Offering</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Issuer</TD>
    <TD STYLE="width: 65%; padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt">AEye, Inc.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Common stock offered by us</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt">727,706 shares.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Common stock outstanding after this offering*</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt">8,062,101 shares.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Nasdaq Symbol</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt">&ldquo;LIDR.&rdquo;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Use of Proceeds</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 5pt">We estimate that the net proceeds to us from this offering will be
    approximately $2.3 million, after deducting estimated offering expenses payable by us.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 5pt">We intend to use the net proceeds of this offering to fund working
    capital and general corporate purposes. See the section entitled &ldquo;Use of Proceeds&rdquo; on page S-8 of this prospectus supplement.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; padding-left: 9pt; text-indent: -9pt">Risk Factors</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt">Investing in our common stock involves risks.&nbsp;&nbsp;You should carefully consider the risks described under &ldquo;Risk Factors&rdquo; in this prospectus supplement, in our most recent Annual Report on Form&nbsp;10&#45;K and our subsequent Quarterly Reports on Form&nbsp;10&#45;Q as well as the other information contained or incorporated by reference in this prospectus supplement and the accompanying base prospectus before making a decision to invest in our common stock.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">* The number of shares of common stock to be outstanding after this
offering is based on 7,334,395 shares of common stock outstanding as of May 29, 2024, excluding:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>151,663 shares of common stock issuable upon the exercise of outstanding options granted under 2014 Plan or the 2016 Plan, with a
weighted-average exercise price of $12.56 per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>805,496 shares of common stock available for future issuance under our 2021 Equity Incentive Plan;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>297,962 shares of common stock underlying restricted stock units, or RSUs, granted pursuant to our 2016 Plan or 2021 Equity Incentive
Plan;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>261,110 shares of common stock issuable upon the exercise of outstanding public and private placement warrants to purchase Common
Stock, with a weighted-average exercise price of $345 per share (out of a total of 261,110 warrants issued, of which no warrant has been
exercised as of the date of this filing);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>206,780 shares of common stock we may sell to Tumim Stone Capital LLC under that certain Common Stock Purchase Agreement, dated
                                                                December 8, 2021, from time to time (out of a total of 1,028,846 purchase shares, of which 822,066 shares have been sold as of May
                                                                29, 2024; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD STYLE="text-align: justify">58,333 shares of common stock issuable upon the exercise of an outstanding warrant for $3.50 per
                                                                share.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.2in"><A NAME="risk2"></A>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><I>An investment in our common stock involves
a high degree of risk. Before deciding whether to invest in our common stock, you should carefully consider the risks described below,
together with the other information in this prospectus supplement and the accompanying base prospectus and the information contained in
our other filings with the SEC, including our Annual Report on Form 10-K, as well as any amendment or update to our risk factors reflected
in subsequent filings with the SEC, including any Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, which are incorporated
by reference in this prospectus supplement and the accompanying base prospectus in their entirety, together with other information in
this prospectus supplement, the accompanying base prospectus, the information and documents incorporated by reference herein and therein,
and in any free writing prospectus that we have authorized for use in connection with this offering. If any of these risks actually occurs,
our business, financial condition, results of operations, or cash flow could be seriously harmed. This could cause the trading price of
our common stock to decline, resulting in a loss of all or part of your investment</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Risks Related to This Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;You may experience immediate and substantial dilution</I></B>.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If you purchase shares of our common stock in this
offering, you will incur immediate and substantial dilution in the as adjusted net tangible book value of your common stock purchased
in this offering because the price that you pay will be substantially greater than the net tangible book value per share of the shares
you acquire. To the extent outstanding options are exercised, restricted stock units vest and settle or we raise additional capital, you
will incur further dilution. For additional information on the dilution that you will experience immediately after this offering, see
the section titled &ldquo;Dilution.&rdquo;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Management will have broad discretion as to the use of the proceeds
from this offering and may not use the proceeds effectively</I></B>.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">While we intend to use the net proceeds of this offering
to fund working capital and general corporate purposes, we may not use these proceeds effectively. Our management will have broad discretion
as to the application of the net proceeds from this offering and could use them for purposes other than those contemplated at the time
of the offering. Our management may use the net proceeds for corporate purposes that may not improve our financial condition or market
value. <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">The failure by management to apply these funds
effectively could result in financial losses that could have a material adverse effect on our business and cause the price of our common
stock to decline.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Future sales of substantial amounts of our common stock, or the possibility
that such sales could occur, could adversely affect the market price of our common stock</I></B>.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">We
cannot predict the effect, if any, that future issuances or sales of our common stock, warrants, or debt securities convertible into or
exercisable or exchangeable for common stock, including sales of our common stock pursuant to the sales agreement, or the availability
of our securities for future issuance or sale, will have on the market price of shares of our common stock. Issuances or sales of substantial
amounts of our common stock, warrants, or debt securities convertible into or exercisable or exchangeable for common stock, including
sales of our common stock pursuant to the sales agreement, or the perception that such issuances or sales might occur, could negatively
impact the market price of our common stock and the terms upon which we may obtain additional equity financing in the future.</FONT><FONT STYLE="font-size: 7.5pt">&nbsp;</FONT></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><I>Because we do not expect to pay cash dividends for the foreseeable
future, you must rely on appreciation of our common stock price for any return on your investment. Even if we change that policy, we may
be restricted from paying dividends on our common stock. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">We do not intend to pay cash dividends on shares
of our common stock for the foreseeable future. Accordingly, you will have to rely on capital appreciation, if any, to earn a return on
your investment in our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The market price and trading volume of our common
stock may be volatile and could decline significantly.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The stock markets, including Nasdaq on which we list
our shares of common stock, have from time to time experienced significant price and volume fluctuations. Even if an active, liquid, and
orderly trading market develops and is sustained for our common stock, the market price of our common stock may continue to be volatile
and could decline significantly. Most recently, since December 6, 2022, our stock has closed below $1.00 per share. As previously disclosed,
on January 20, 2023, we received a notice from Nasdaq that we were no longer in compliance with the $1.00 per share minimum bid price
requirement for continued listing on Nasdaq. Although the notification did not have an immediate impact on our Nasdaq listing, we were
given a period of 180 calendar days, or until July 19, 2023, to regain compliance with the requirement. <FONT STYLE="background-color: white">To
ensure compliance with the minimum bid price requirement by January 16, 2024, we held a special meeting of stockholders on December 12,
2023, to consider and authorize our Board of Directors to effect a reverse stock split. At the special meeting, the Company&rsquo;s stockholders
authorized the Board to effect a reverse stock split, in the Board's discretion, within one year from the date of the special meeting,
at one of ten ratios in multiples of five between and including one-for-five to one-for-fifty. Thereafter, the Board resolved to effect
a reverse stock split of our issued common stock at a ratio of one-for-thirty (the &quot;<U>Reverse Stock Split</U>&quot;), and pursuant
to that resolution, on December 26, 2023, we caused a Certificate of Amendment to our Second Amended and Restated Certificate of Incorporation,
as amended, to be filed with the Secretary of State of the State of Delaware. The Reverse Stock Split became effective upon the filing
of the Certificate and our common stock began trading on a split-adjusted basis on The Nasdaq Capital Market at the opening of trading
on December 27, 2023. Companies that implement a reverse stock split often see a materially negative impact on their stock price. In addition,
since the Reverse Stock Split, and the resulting lower number of shares in our float, we have generally seen lower trading volumes in
our stock. The trading volume of our common stock may fluctuate significantly for this or other reasons, which can have a significant
impact on the price of our common stock. If the market price of our common stock declines significantly, you may be unable to resell your
shares at an attractive price, or at all. We cannot assure you that the market price of our common stock will not fluctuate widely or
decline significantly in the future. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There can be no assurance that we will be able to maintain
compliance with the Nasdaq continued listing requirements. Failure to meet these listing requirements may result in our common stock being
delisted from the Nasdaq Capital Market. Delisting from Nasdaq could negatively affect our ability to access the capital markets, decrease
the liquidity and market price of our common stock, reduce our corporate visibility in the financial markets, and diminish investor interest
and confidence. If our common stock were to be delisted, trading of our shares could be conducted only on an over-the-counter market or
a less established public market, which could have a material adverse effect on the liquidity and value of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B><I>Because we are a small
company, the requirements of being a public company, including compliance with the reporting requirements of the Securities Exchange Act
of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and the requirements of the Sarbanes-Oxley Act and the Dodd-Frank Act, may strain
our resources, increase our costs and distract management, and we may be unable to comply with these requirements in a timely or cost-effective
manner.</I></B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">As a public
company with listed equity securities, we must comply with the federal securities laws, rules and regulations, including certain corporate
governance provisions of the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes-Oxley Act&rdquo;) and the Dodd-Frank Act, related rules and
regulations of the SEC and Nasdaq, with which a private company is not required to comply. Complying with these laws, rules and regulations
occupies a significant amount of the time of our Board of Directors and management and significantly increases our costs and expenses.
Among other things, we must:</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">maintain a system of internal control over financial reporting in compliance with the requirements
of Section&nbsp;404 of the Sarbanes-Oxley Act and the related rules and regulations of the SEC and the Public Company Accounting Oversight
Board;</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">comply with rules and regulations promulgated by the exchange;</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">prepare and distribute periodic public reports in compliance with our obligations under the federal
securities laws;</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">maintain various internal compliance and disclosures policies, such as those relating to disclosure
controls and procedures and insider trading in our Common Stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">involve and retain to a greater degree outside counsel and accountants in the above activities;</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 2.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">maintain a comprehensive internal audit function; and</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">maintain an investor relations function.</FONT></TD></TR></TABLE>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&#8203;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B><I>Future sales of our common
stock, whether by us or our shareholders, could cause our stock price to decline.</I></B></FONT></P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">If our existing
stockholders sell, or indicate an intent to sell, substantial amounts of our common stock in the public market, the trading price of our
common stock could decline significantly. Similarly, the perception in the public market that our stockholders might sell shares of our
common stock could also depress the market price of our common stock. A decline in the price of shares of our common stock might impede
our ability to raise capital through the issuance of additional shares of our common stock or other equity securities. In addition, the
issuance and sale by us of additional shares of our common stock or securities convertible into or exercisable for shares of our common
stock, or the perception that we will issue such securities, could reduce the trading price for our common stock as well as make future
sales of equity securities by us less attractive or not feasible. The sale of shares of common stock issued upon the exercise of our outstanding
options and warrants could further dilute the holdings of our then existing shareholders.</FONT></P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B><I>You may experience future
dilution as a result of future equity offerings or other equity issuances.</I></B></FONT></P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">We may in
the future issue additional shares of our common stock or other securities convertible into or exchangeable for shares of our common stock.
We cannot assure you that we will be able to sell shares of our common stock or other securities in any other offering or other transactions
at a price per share that is equal to or greater than the price per share paid by Investors in this offering. The price per share at which
we sell additional shares of our common stock or other securities convertible into or exchangeable for our common stock in future transactions
may be higher or lower than the price per share in this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.2in"><A NAME="use2"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We estimate that the net proceeds to us from
this offering will be approximately $2.3 million after deducting estimated offering expenses payable by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We intend to use the net proceeds of this offering
to fund working capital and general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The amounts and timing of our actual expenditures
will depend on numerous factors, including the progress of the development and commercialization of our technologies and other factors
described under &ldquo;Risk Factors&rdquo; in this prospectus supplement, the accompanying base prospectus and the documents incorporated
by reference herein and therein, as well as the amount of cash used in our operations. We will have broad discretion in the application
of the net proceeds. Pending the uses described above, we plan to invest the net proceeds from this offering in short- and intermediate-term,
interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="dividend2"></A>DIVIDEND POLICY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">We have never declared or
paid any cash dividends on our capital stock. We currently intend to retain all available funds and future earnings, if any, to fund the
development and growth of the business, and therefore, do not anticipate declaring or paying any cash dividends on our common stock in
the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our Board of Directors
after considering our business prospects, results of operations, financial condition, cash requirements and availability, debt repayment
obligations, capital expenditure needs, contractual restrictions, covenants in the agreements governing current and future indebtedness,
industry trends, the provisions of Delaware law affecting the payment of dividends and distributions to stockholders and any other factors
or considerations the Board deems relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><A NAME="dilution2"></A>DILUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If you invest in our common stock in this
offering, your interest will be diluted to the extent of the difference between the price per share you pay in this offering and the
net tangible book value per share of our common stock immediately after this offering. Our net tangible book value of our common
stock on March 31, 2024 was approximately $21.9 million or approximately $2.99 per share of common stock based on 7,334,395 shares
outstanding. We calculate net tangible book value per share by dividing the net tangible book value, which is tangible assets less
total liabilities, by the number of outstanding shares of our common stock as of March 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Without taking into account any other changes in our
net tangible book value after March 31, 2024 other than to give effect to the issuance and sale of 727,706 shares of our common stock in
this offering at the public offering price of $3.45 per share, and after deducting estimated offering expenses payable by us, our as
adjusted net tangible book value as of March 31, 2024 would have been $24.2 million, or $3.01 per share. This represents an immediate increase
of $0.02 in as adjusted net tangible book value per share to existing stockholders and immediate dilution of $0.44 in as adjusted net
tangible book value per share to investors participating in this offering. Dilution per share to investors purchasing shares of our common
stock in this offering is determined by subtracting as adjusted net tangible book value per share after this offering from the public
offering price per share paid by investors purchasing shares of our common stock in this offering. <FONT STYLE="background-color: White">The
following table illustrates this calculation on a per share basis:</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 67%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt">Public offering price per share</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3.45</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in; text-indent: -12pt">Net tangible book value per share of common stock at March 31, 2024</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;&nbsp;&nbsp;&nbsp;3.37</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; text-indent: -12pt">Decrease in net tangible book value per share attributable to investors purchasing shares of common stock</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;&nbsp;&nbsp;&nbsp;0.02</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: Transparent">
    <TD STYLE="vertical-align: top">As adjusted net tangible book value per share of common stock after giving effect to this offering</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;&nbsp;&nbsp;&nbsp;3.35</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt">Dilution per share to new investors in this offering&#9;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">0.10</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
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    <TD STYLE="text-align: right; vertical-align: bottom">
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    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The foregoing tables and calculations (other than historical net
tangible book value) are based on  6,503,019 shares of common stock outstanding as of March 31, 2024 excluding:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>205,910 shares of common stock issuable upon the exercise of outstanding options granted under 2014 Plan or the 2016 Plan, with a
weighted-average exercise price of $12.56 per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>774,796 shares of common stock available for future issuance under our 2021 Equity Incentive Plan;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>494,216 shares of common stock underlying restricted stock units, or RSUs, granted pursuant to our 2016 Plan or 2021 Equity Incentive
Plan;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>261,110 shares of common stock issuable upon the exercise of outstanding public and private placement warrants to purchase common
stock, with a weighted-average exercise price of $345 per share (out of a total of 261,110 warrants issued, of which no warrant has been
exercised as of the date of this filing);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD>842,180 shares of common stock we may sell to Tumim Stone Capital LLC under that certain Common Stock Purchase Agreement, dated December
8, 2021, from time to time (out of a total of 1,028,846 purchase shares, of which 186,666 have been sold as of March 31, 2024; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27pt"></TD><TD STYLE="width: 18pt">&bull;</TD><TD STYLE="text-align: justify">58,333 shares of common stock issuable upon the exercise of an outstanding warrant for $3.50 per
                                                                share.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="background-color: white">In addition, we
may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds
for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt
securities, the issuance of these securities could result in further dilution to our stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="background-color: white"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The as adjusted information discussed above
will be based on the number of shares, the offering price and other terms determined at pricing of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B><A NAME="description2"></A>DESCRIPTION
OF OUR COMMON STOCK</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">The
material terms of our Common Stock are described under the heading &ldquo;Description of Capital Stock; Description of Common
Stock&rdquo; in the accompanying base prospectus.</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>Transfer Agent and Registrar</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">The transfer
agent and registrar for our Common Stock is </FONT>Broadridge Corporate Issuer Solutions, Inc., 51 Mercedes Way, Edgewood, NY 11717. <FONT STYLE="letter-spacing: 0.2pt">Our
transfer agent&rsquo;s phone number is (800) 353-0103.</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>Listing</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">Our shares
of common stock are traded on The Nasdaq Capital Market under the trading symbol &ldquo;LIDR.&rdquo;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B><A NAME="plan2"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt">We have entered into a Securities Purchase Agreement,
dated May 29, 2024, directly with the Investor in connection with this offering. <FONT STYLE="letter-spacing: 0.2pt">We are not using
a placement agent, underwriter, broker or dealer. The offering is expected to close on or about May 31, 2024, subject to the satisfaction
of customary closing conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt; background-color: white">Subject to the terms
and conditions of the Securities Purchase Agreement, on the closing date, we will issue 727,706 shares of our common stock to the Investor,
and we will receive gross proceeds in the amount of $2.51 million. We estimate that the expenses of this offering payable by us will be
approximately $200,000.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>No Sales of Similar Securities</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">We have agreed,
subject to certain exceptions, not to issue, enter into any agreement to issue or announce the issuance or proposed issuance of, any shares
of common stock (or securities convertible into or exercisable for common stock) or, subject to certain exceptions, file any registration
statement, including any amendments or supplements thereto (other than the prospectus supplement, registration statement or amendment
to the registration statement relating to the securities offered hereunder and a registration statement on Form S-8), until 30&nbsp;days
after the completion of this offering.</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt"></FONT></P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="legal2"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The validity of the shares of common stock offered
hereby have been passed upon for us by Allen Overy Shearman Sterling US LLP, Menlo Park, California.</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="experts2"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The consolidated financial statements of AEye,
Inc. as of December&nbsp;31, 2023 and 2022 and for each of the two years in the period ended December&nbsp;31, 2023 incorporated herein
by reference have been so incorporated in reliance on the report of <FONT STYLE="background-color: white">Deloitte &amp; Touche LLP</FONT>,
an independent registered public accounting firm, incorporated herein by reference, given on the authority of said firm as experts in
accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="incorporation2"></A>INCORPORATION
OF CERTAIN INFORMATION BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The SEC allows us to incorporate by reference
the information we file with the SEC, which means that we can disclose important information to you by referring you to those documents.
The information that we incorporate by reference is considered to be part of this prospectus. Information that we file with the SEC in
the future and incorporate by reference in this prospectus automatically updates and supersedes previously filed information as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We incorporate by reference into this prospectus
and the registration statement of which this prospectus is a part the documents filed by us with the SEC, other than any portion of any
such documents that are not deemed &ldquo;filed&rdquo; under the Exchange Act in accordance with the Exchange Act and applicable SEC rules:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="background-color: white">our Quarterly Report on Form&nbsp;10-Q&nbsp;for the quarterly period ended March&nbsp;31, 2024,
filed with the SEC on&nbsp;May 14, 2024;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>our Definitive Proxy Statement on Schedule 14A for the 2024 Annual Meeting of Stockholders, filed with the SEC on April 2, 2024; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>our Current Reports on Form 8-K filed with the SEC on April 12, 2024, May 14, 2024, May 15, 2024 and May 29, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We also incorporate by reference into this prospectus
and the registration statement of which this prospectus is a part all documents (other than any portions of any such documents that are
not deemed &ldquo;filed&rdquo; under the Exchange Act in accordance with the Exchange Act and applicable SEC rules) filed by us under
Sections&nbsp;13(a), 13(c), 14, or 15(d) of the Exchange Act after the date of this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">You may request a copy of these filings at no
cost, by writing or telephoning us as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AEye, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attn: General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">One Park Place, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Dublin, CA 94568</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(925) 400-4366</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Any statement contained in a document that is
incorporated by reference will be modified or superseded for all purposes to the extent that a statement contained in this prospectus
supplement and the accompanying base prospectus, or in any other document that is subsequently filed with the SEC and incorporated by
reference, modifies, or is contrary to that previous statement. Any statement so modified or superseded will not be deemed a part of this
prospectus supplement or the accompanying base prospectus, except as so modified or superseded. Since information that we later file with
the SEC will update and supersede previously incorporated information, you should look at all of the SEC filings that we incorporate by
reference to determine if any of the statements in this prospectus supplement or the accompanying base prospectus or in any documents
previously incorporated by reference have been modified or superseded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="where2"></A>WHERE YOU CAN
FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We file annual, quarterly and current reports;
proxy statements; and other information with the SEC under the Exchange Act. Through our website at <I>www.aeye.ai</I>, you may access,
free of charge, our filings, as soon as reasonably practical after we electronically file them with or furnish them to the SEC. Other
information contained in our website is not incorporated by reference in, and should not be considered a part of, this prospectus supplement
or any accompanying base prospectus. Our SEC filings are also available to the public from the SEC&rsquo;s website at <I>www.sec.gov</I>.
<FONT STYLE="background-color: white">The information found on, or otherwise accessible through our website is not incorporated by reference
into, and does not form a part of, this prospectus supplement or the accompanying base prospectus or any other document or report we file
or furnish with the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">This prospectus supplement is part of a registration
statement on Form S-3 that we filed with the SEC to register the securities offered hereby under the Securities Act. This prospectus supplement
does not contain all of the information included in the registration statement, including certain exhibits. You may obtain the registration
statement and exhibits to the registration statement at our webpage or from the SEC&rsquo;s website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<DIV STYLE="padding: 1pt 0in 0in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
<BR>
</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>727,706 Shares of Common Stock</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 92px; width: 336px"></FONT></P>

</DIV>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">AEye, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;<U></U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U></U></P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">PROSPECTUS SUPPLEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U></U></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U></U>&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">May 29, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 106.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 106.6pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 106.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 106.6pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 106.6pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial Narrow, Helvetica, Sans-Serif; margin: 0pt 0 12pt; text-align: justify; color: #EB0029"><B>The information
in this prospectus is not complete and may be changed. The securities may not be sold until the registration statement filed with the
Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an
offer to buy these securities in any state where the offer or sale is not permitted. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #EB0029"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: #EB0029"><B>Subject to Completion,
dated </B></FONT><B><FONT STYLE="color: #FF4338">September 15, 2023</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>PROSPECTUS </B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>AEYE, INC.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$200,000,000</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Common Stock </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Preferred Stock</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Warrants</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Rights</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Units</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 6pt 3in"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">We may offer and sell from time to time
common stock, preferred stock, debt securities, warrants, rights and units that include any of these securities. The preferred stock
or warrants may be convertible into or exercisable or exchangeable for common or preferred stock or other of our securities
registered hereunder. The debt securities may be convertible into, or exercisable or exchangeable for, common stock. Our common
stock is listed on The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;) under the symbol &#8220;LIDR.&#8221; On September 14,
2023, the closing price of our common stock was $0.24 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">We may offer and sell these securities to
or through one or more underwriters, dealers, and agents, or directly to purchasers, on a continuous or delayed basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">We are an &#8220;emerging growth company&#8221;
as defined in Section 2(a) of the Securities Act, and are subject to reduced public company reporting requirements. This prospectus complies
with the requirements that apply to an issuer that is an emerging growth company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">This prospectus describes some of the general
terms that may apply to these securities and the general manner in which they may be offered. The specific terms of any securities to
be offered, and the specific manner in which they may be offered, will be described in a supplement to this prospectus. You should read
this prospectus and any applicable prospectus supplement carefully before you invest.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Our business and investment in our securities involve significant
risks. These risks are described in the section titled &#8220;<I>Risk Factors</I>&#8221; beginning on page 6 of this prospectus. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><B>Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any
representation to the contrary is a criminal offense. </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>The date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2023.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B><A NAME="toc" TITLE="toc"></A><A HREF="#toc">Table
of Contents</A></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>Page</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 94%; padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#About">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#caution">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#prospectus">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#risk">RISK FACTORS</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Use">USE OF PROCEEDS</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#description">DESCRIPTION OF SECURITIES WE MAY OFFER</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#desc">DESCRIPTION OF CAPITAL STOCK</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Plan">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Legal">LEGAL MATTERS</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Experts">EXPERTS</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Where">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt"><A HREF="#Information">INFORMATION INCORPORATED BY REFERENCE</A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 5pt; padding-left: 5.4pt; text-align: right">27</TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="About" TITLE="About"></A>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus is part of a registration statement
on Form S-3 that we filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;), using a &#8220;shelf&#8221; registration
process. Under this shelf registration process, we may, from time to time, sell shares of our common stock having an aggregate offering
price of up to $200,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The prospectus supplement may also add to, update,
or change the information contained in or incorporated by reference in this prospectus. If information varies between this prospectus
and any prospectus supplement, you should rely on the information in the prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus provides you with a general
description of the securities that may be offered pursuant to the registration statement of which this prospectus forms a part. Each time
we sell securities pursuant to the registration statement of which this prospectus forms a part, a prospectus supplement or post-effective
amendment to the registration statement of which this prospectus forms a part will be provided that contains specific information about
the terms of that offering and the securities being sold in that offering. The prospectus supplement or post-effective amendment may also
add, update, or change information contained in this prospectus with respect to that offering. If there is any inconsistency between the
information in this prospectus and the applicable prospectus supplement or post-effective amendment, you should rely on the prospectus
supplement or post-effective amendment, as applicable. Before purchasing any securities, you should carefully read this prospectus, any
post-effective amendment, and any applicable prospectus supplement, together with the additional information described under the heading
&#8220;<I>Where You Can Find More Information</I>&#8221; and &#8220;<I>Information Incorporated by Reference.</I>&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We have not authorized anyone to provide you
with any information or to make any representations other than those contained in or incorporated by reference into this prospectus, any
post-effective amendment, or any applicable prospectus supplement prepared by or on behalf of us or to which we have referred you. We
take no responsibility for and can provide no assurance as to the reliability of any other information that others may give you. We will
not make an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information
appearing in this prospectus, any post-effective amendment, and any applicable prospectus supplement to this prospectus is accurate only
as of the date on its respective cover. Our business, financial condition, results of operations, and prospects may have changed since
those dates. This prospectus contains, and any post-effective amendment or any prospectus supplement may contain, market data and industry
statistics and forecasts that are based on independent industry publications and other publicly available information. We believe this
information is reliable as of the applicable date of its publication, however, we have not independently verified the accuracy or completeness
of the information included in or assumptions relied on in these third-party publications. In addition, the market and industry data and
forecasts that may be included or incorporated by reference in this prospectus, any post-effective amendment, or any prospectus supplement
may involve estimates, assumptions, and other risks and uncertainties and are subject to change based on various factors, including those
discussed under the heading &#8220;<I>Risk Factors</I>&#8221; contained in this prospectus, any post-effective amendment, and the applicable
prospectus supplement. Accordingly, investors should not place undue reliance on this information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><A NAME="caution" TITLE="caution"></A><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">This prospectus, any accompanying prospectus
supplement, and the documents incorporated by reference herein contain forward-looking statements. All statements other than statements
of historical facts contained in this prospectus, any accompanying prospectus supplement, and the documents incorporated by reference
herein, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and
any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying
assumptions, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors
that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements
expressed or implied by the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">In some cases, you can identify forward-looking
statements by terms such as &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221;
&#8220;could,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221; &#8220;project,&#8221; &#8220;contemplate,&#8221; &#8220;believe,&#8221;
&#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential,&#8221; or &#8220;continue&#8221; or the negative of these terms or other
similar expressions. These forward-looking statements are only predictions. We have based these forward-looking statements largely on
our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition,
and results of operations. The forward-looking statements in this prospectus, any accompanying prospectus supplement, and the documents
incorporated by reference herein speak only as of the date of this prospectus, any accompanying prospectus supplement, and the documents
incorporated by reference herein, as applicable. These forward-looking statements are subject to a number of important factors that could
cause actual results to differ materially from those in the forward-looking statements, including the risks, uncertainties, and assumptions
described under the section in this prospectus titled &#8220;<I>Risk Factors</I>.&#8221; These forward-looking statements are subject
to numerous risks, including, without limitation, the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, and plans;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our product development timeline, third-party suppliers, cost of development, and expected start of commercial production;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>the implementation, market acceptance, and success of our business model;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our ability to scale in a cost-effective manner;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>developments and projections relating to our competitors and industry;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>the impact of health epidemics, including the lingering effects of the COVID-19 pandemic, on our business and the actions we may take
in response thereto;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>the effect of global events, such as the Russia&#8217;s invasion of Ukraine, on the U.S. and global economies, our business, our employees,
results of operations, financial condition, demand for our products, and partners&#8217; businesses;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>expectations regarding the time during which we will be an emerging growth company under the JOBS Act;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our future capital requirements and sources and uses of cash;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our ability to obtain funding for our operations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our business, business relationships, expansion plans, and opportunities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>the outcome of any known and unknown litigation and regulatory proceedings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">Because forward-looking statements are inherently subject to risks
and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these
forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may
not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Moreover,
we operate in an evolving environment. Some of these risks and uncertainties may in the future be amplified by the lingering effects of
the COVID-19 pandemic. Additionally, new risk factors and uncertainties may emerge from time to time, and it is not possible for management
to predict all risk factors and uncertainties. As a result of these factors, the forward-looking statements in this prospectus, any accompanying
prospectus supplement, and the documents incorporated by reference herein may not prove to be accurate. Except as required by applicable
law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information,
future events, changed circumstances, or otherwise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">You should read this prospectus, any accompanying
prospectus supplement and the documents incorporated by reference herein completely and with the understanding that our actual future
results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="border: Black 1pt solid; width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="prospectus" TITLE="prospectus"></A>PROSPECTUS SUMMARY</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><I>This summary highlights certain information about us, this
    prospectus, the documents incorporated by reference, and the information appearing elsewhere in this prospectus. This summary is not complete
    and does not contain all of the information that you should consider before making an investment decision. You should read this entire
    prospectus carefully, including the information referred to under the heading &#8220;Risk Factors&#8221; of this prospectus and any prospectus
    supplement relating to a specific security, along with the financial statements and other documents incorporated by reference before making
    an investment decision. See also the sections entitled &#8220;Where You Can Find More Information&#8221; and &#8220;Information Incorporated
    by Reference.&#8221; Some of the statements in this prospectus constitute forward-looking statements. See &#8220;Cautionary Note Regarding
    Forward-Looking Statements.&#8221; These risks could materially affect our business, results of operations, or financial condition and
    affect the value of our securities. You could lose all or part of your investment.</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Overview </B></P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-size: 10pt">AEye is a provider of high-performance,
    active lidar systems technology for vehicle autonomy, advanced driver-assistance systems (&#8220;ADAS&#8221;), and robotic vision applications.
    AEye has developed an artificial intelligence technology that enables adaptive &#8220;intelligent sensing,&#8221; differentiating AEye
    in the marketplace from its competition. Our proprietary software-definable 4Sight</FONT><FONT STYLE="font-size: 8.5pt"><SUP>TM</SUP></FONT>
    <FONT STYLE="font-size: 10pt">Intelligent Sensing Platform combines solid-state active lidar, an optionally fused low-light HD camera,
    and integrated deterministic artificial intelligence to capture more intelligent information with less data, enabling faster, more accurate,
    and more reliable perception of the surroundings. </FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">AEye was founded in 2013 by Luis Dussan, AEye&#8217;s Chief Technology
    Officer, to create a deterministic AI-driven sensing system that performs better than the human eye and visual cortex. Mr. Dussan&#8217;s
    experience developing mission-critical targeting systems for fighter jets and ground troops on behalf of the U.S. military provided him
    with the background to develop a differentiated approach to visual sensing. While traditional sensing systems passively collect data,
    our active 4Sight<SUP>TM</SUP> Intelligent Sensing Platform leverages principles from automated targeting systems and biomimicry to scan
    the environment, while intelligently focusing on what matters in order to enable safer, smarter, and faster decisions in complex scenarios.
    From its inception, AEye&#8217;s culture drew from esteemed scientists and electro-optics engineers from the National Aeronautics and
    Space Administration, or NASA, Lockheed Martin Corporation, Northrop Grumman Corporation, the U.S. Air Force, and the Defense Advanced
    Research Projects Agency, or DARPA, to create the highest performing sensing and perception system for the most challenging situations,
    ensuring the highest levels of safety for autonomous driving.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">As a result, our adaptive lidar is designed to enable higher levels
    of autonomy and functionality &#8212; SAE Levels 2 through 5 &#8212; with the goal of optimizing performance, power, and reducing cost.
    Our 4Sight<SUP>TM</SUP> Intelligent Sensing Platform is software-definable and network-optimized, and leverages deterministic artificial
    intelligence at the edge. We have made substantial investments in our R&amp;D processes and deliver value to our customers through a combination
    of sales and direct channels. We perform the majority of our R&amp;D activities in our 56,549 square foot corporate headquarters in Dublin,
    California. Our modular design facilitates product hardware updates as technologies evolve, and its small size and modest heat dissipation
    enable very flexible placement options on the interior or exterior of a vehicle. 4Sight<SUP>TM</SUP> also leverages a common architecture
    to create application-specific products across the Automotive and Industrial markets.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">AEye&#8217;s systems-based approach encourages partnership from
    the well-established automotive supply chain, including original equipment manufacturers (&#8220;OEMs&#8221;), as well as Tier 1 and Tier
    2 OEM suppliers. There is strong alignment between AEye and AEye&#8217;s partners given what is required to produce high-performance automotive
    grade products at scale, including quality, reliability, and affordability. AEye&#8217;s Tier 1 partners will add value with OEM customers
    through industrialization, manufacturing, integration, sales, marketing, product liability, and warranty. AEye&#8217;s Tier 2 partners
    will provide automotive-grade sub-components, which are used not only in automotive lidar for ADAS use cases, but also for AEye&#8217;s
    products to be sold in the Industrial market. AEye expects the result will be a high-quality, high-performance product at the right price
    point, which AEye believes to be a key enabler in accelerating adoption of lidar across various markets in Automotive and beyond.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">In pursuing this strategy, AEye has partnered with leading Tier
    1 automotive suppliers, including Continental, who is in the process of bidding for long range lidar series production awards with OEMs
    that are expected to represent a substantial portion of AEye&#8217;s future revenues. The main markets for lidar, including Automotive
    and Industrial, are projected to see significant growth in both the near and long term. We believe this expected growth will allow AEye
    to capture significant market share as well as pursue specialization opportunities like highway autonomous driving applications that benefit
    from our products. We expect that lidar will be a required sensing solution across many end markets, and we intend to be the leading solutions
    provider in these spaces.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Background </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">On February&nbsp;17, 2021, AEye Technologies,
    Inc., then known as AEye, Inc. (&#8220;AEye Technologies&#8221;), entered into the Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;)
    with CF Finance Acquisition Corp. III, a Delaware corporation (&#8220;CF III&#8221;), now known as AEye, Inc., and Meliora Merger Sub,
    Inc., a Delaware corporation and a wholly owned subsidiary of CF III (&#8220;Merger Sub&#8221;). Based on CF III&#8217;s business activities,
    it was a &#8220;shell company&#8221; as defined under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;).
    On August&nbsp;16, 2021 (the &#8220;Closing Date&#8221;), CF III closed the business combination (the &#8220;Merger,&#8221; and together
    with the other transactions contemplated by the Merger Agreement, the &#8220;Transactions&#8221;) pursuant to the Merger Agreement, and
    Merger Sub was merged with and into AEye Technologies with AEye Technologies surviving the merger as a wholly owned subsidiary of CF III.
    On the Closing Date, and in connection with the closing of the Transactions (the &#8220;Closing&#8221;), CF III changed its name to AEye,
    Inc. Unless otherwise stated or unless the context otherwise requires, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221;
    &#8220;AEye,&#8221; &#8220;Company,&#8221; and &#8220;post-combination entity&#8221; refer to AEye, Inc. and its subsidiaries following
    the consummation of the Merger or to AEye Technologies and its subsidiaries prior to the consummation of the Merger.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Corporate Information </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">CF III was incorporated in the State of Delaware in March 2016 for
    the purpose of effecting a transaction such as the Merger and completed its initial public offering (the &#8220;IPO&#8221;) in November
    2020. In August 2021, Merger Sub merged with and into AEye Technologies, with AEye Technologies surviving the merger as a wholly owned
    subsidiary of CF III. In connection with the Merger, we changed our name to AEye, Inc. Our principal executive offices are located at
    One Park Place, Suite 200, Dublin, CA 94568. Our telephone number is (925) 400-4366. Our website address is <I>www.aeye.ai</I>. Information
    contained on our website or connected thereto does not constitute part of, and is not incorporated by reference into, this prospectus
    or the registration statement of which it forms a part.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Implications of Being an Emerging Growth Company and a Smaller
    Reporting Company </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">We are an emerging growth company as defined in the Jumpstart Our
    Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;). We will remain an emerging growth company under the JOBS Act until the earliest
    of (a)&nbsp;the last day of our first fiscal year following the fifth anniversary of CF III&#8217;s IPO, which is December 31, 2026, (b)&nbsp;the
    last date of our fiscal year in which we have total annual gross revenue of $1.235 billion or more during such fiscal year, (c)&nbsp;the
    date on which we are deemed to be a &#8220;large accelerated filer&#8221; under the rules of the SEC with at least $700.0&nbsp;million
    of outstanding securities held by non-affiliates, or (d)&nbsp;the date on which we have issued more than $1.0&nbsp;billion in non-convertible
    debt securities during the previous three years.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We are also a &#8220;smaller reporting company&#8221; as defined
    in Rule 12b-2 under the Exchange Act. We may continue to be a smaller reporting company even after we are no longer an emerging growth
    company. We may take advantage of certain of the scaled disclosures available to smaller reporting companies and will be able to take
    advantage of these scaled disclosures for so long as the market value of our Common Stock held by non-affiliates is less than $250.0&nbsp;million
    measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0&nbsp;million during the most
    recently completed fiscal year and the market value of our Common Stock held by non-affiliates is less than $700.0&nbsp;million measured
    on the last business day of our second fiscal quarter.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As a result, the information in this prospectus, any accompanying prospectus
    supplement or the documents incorporated by reference herein that we provide to our investors in the future may be different than what
    you might receive from other public reporting companies.</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><A NAME="risk" TITLE="risk"></A><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="background-color: white">Investing in
any of our securities involves significant risks. </FONT>Before you make a decision to buy our securities, in addition to the risks and
uncertainties discussed above under &#8220;<I>Cautionary Note Regarding Forward-Looking Statements</I>,&#8221; <FONT STYLE="background-color: white">you
should carefully consider the specific risks set forth under the heading &#8220;Risk Factors&#8221; under Item 1A of Part I of our Annual
Report on&nbsp;Form&nbsp;10-K&nbsp;filed with the SEC, any subsequent Quarterly Reports on Form 10-Q, or Current Reports on Form 8-K,
and all other information contained or incorporated by reference to this prospectus, as updated by our subsequent filings under the Exchange
Act, and the risk factors and other information contained in any applicable prospectus supplement and any applicable free writing prospectus
before acquiring any of such securities. If any of these risks actually occur, it may materially harm our business, financial condition,
liquidity, and results of operations. As a result, the market price of our securities could decline, and you could lose all or part of
your investment. Additionally, the risks and uncertainties described in this prospectus, any prospectus supplement, or any documents incorporated
by reference herein are not the only risks and uncertainties that we face. Additional risks and uncertainties not presently known to us
or that we currently believe to be immaterial may become material and adversely affect our business. For more information, see &#8220;<I>Where
You Can Find More Information</I>&#8221; and &#8220;<I>Information Incorporated by Reference</I>.&#8221;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Use" TITLE="use"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Unless otherwise indicated in the applicable
prospectus supplement, information incorporated by reference or related free writing prospectus, we intend to use the net proceeds from
the sale of securities for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="description" TITLE="description"></A>DESCRIPTION OF SECURITIES WE MAY OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">We may issue from time to time, in one or more offerings, the
following securities:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>shares of common stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>shares of preferred stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>debt securities, which may be senior or subordinated and may be convertible into or exchangeable for common stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>warrants exercisable for debt securities, common stock or preferred stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>rights to purchase any of such securities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>units of debt securities, common stock, preferred stock, or warrants, in any combination.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">This prospectus contains a summary of the material general terms
of the various securities that we may offer. The specific terms of the securities will be described in a prospectus supplement, information
incorporated by reference, or related free writing prospectus, which may be in addition to or different from the general terms summarized
in this prospectus. Where applicable, the prospectus supplement, information incorporated by reference, or related free writing prospectus
will also describe any material United States federal income tax considerations relating to the securities offered and indicate whether
the securities offered are or will be listed on any securities exchange. The summaries contained in this prospectus and in any prospectus
supplements, information incorporated by reference, or related free writing prospectus may not contain all of the information that you
would find useful. Accordingly, you should read the actual documents relating to any securities sold pursuant to this prospectus. See
&#8220;<I>Where You Can Find More Information</I>&#8221; and &#8220;<I>Information Incorporated by Reference</I>&#8221; for information
about how to obtain copies of those documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The terms of any particular offering, the initial offering price,
and the net proceeds to us will be contained in the prospectus supplement, information incorporated by reference, or free writing prospectus,
relating to such offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="desc" TITLE="desc"></A>DESCRIPTION OF CAPITAL STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The following description of the material features of our capital
stock is a summary and does not purport to be complete. The description is subject to and qualified in its entirety by reference to (i)&nbsp;our
Second Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment, dated May 11, 2023 (the &#8220;Amended
Charter&#8221;), (ii)&nbsp;our Amended and Restated Bylaws (the &#8220;Amended Bylaws&#8221;), (iii)&nbsp;the Registration Rights Agreement,
dated as of December&nbsp;8, 2021, between the Company and Tumim Stone Capital LLC (the &#8220;Registration Rights Agreement&#8221;),
(iv)&nbsp;the Form of Indemnification Agreement, and (v) the Registration Rights Agreement, dated as of September 15, 2022, between the
Company and 3i, LP (the &#8220;Note Registration Rights Agreement&#8221;), each of which is incorporated by reference as an exhibit or
incorporated by reference by filings incorporated into this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>General </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Our purpose is to engage in any lawful act or activity for which
corporations may be organized under the Delaware General Corporation Law (&#8220;DGCL&#8221;). Our authorized capital stock consists of
(a) 600,000,000 shares of common stock, par value $0.0001 per share (the &#8220;Common Stock&#8221;) and (b) 1,000,000 shares of preferred
stock, par value $0.0001 per share. As of the date of this prospectus, no shares of preferred stock are issued or outstanding. Unless
our Board determines otherwise, we will issue all shares of our capital stock in uncertificated form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Description of Common Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>Voting Rights.</I> Each holder of Common Stock is entitled to
one (1)&nbsp;vote in person or by proxy for each share of the Common Stock held of record by such holder. The holders of shares of the
Common Stock do not have cumulative voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Dividend Rights.</I> Subject to any other provisions of the Amended
Charter, each holder of Common Stock is entitled to receive such dividends and other distributions in cash, stock, or property of the
Company when, as and if declared thereon by our Board from time to time out of assets or funds of the Company legally available therefor
and shall share equally on a per share basis in such dividends and distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Liquidation Rights.</I> In the event of any voluntary or involuntary
liquidation, dissolution, or winding up of the Company, subject to applicable law, the rights, if any, of the holders of any outstanding
series of the preferred stock, after payment or provision for payment of the debts and other liabilities of the Company, the holders of
the shares of Common Stock are entitled to receive all the remaining assets of the Company available for distribution to its stockholders,
ratably in proportion to the number of shares of Common Stock held by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Other Matters.</I> The rights, preferences, and privileges of
the holders of our Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of
our preferred stock, including any series of preferred stock which we may designate in the future. There are no redemption or sinking
fund provisions applicable to the Common Stock. All outstanding shares of Common Stock are fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Listing. </I>The Common Stock is listed for trading on Nasdaq
under the symbol &#8220;LIDR.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Transfer Agent. </I>Broadridge Corporate Issuer Solutions, Inc.
acts as the transfer agent of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Description of Preferred Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Under the terms of the Amended Charter, our Board has the authority,
without stockholder approval, to issue shares of preferred stock from time to time on terms it may determine, to divide shares of preferred
stock into one or more class or series, and to fix for each such class or series the designations, preferences, privileges, and restrictions
of preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preference, and the
number of shares constituting any series or the designation of any series to the fullest extent permitted by the DGCL. The issuance of
preferred stock could have the effect of decreasing the trading price of the Common Stock, restricting dividends on our capital stock,
diluting the voting power of the Common Stock, impairing the liquidation rights of our capital stock, or delaying or preventing a change
in control of the Company. Although we do not currently intend to issue any shares of preferred stock, we cannot assure you that we will
not do so in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Registration Rights </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">The Company is a party to the Registration Rights Agreement entered
in connection with a transaction pursuant to which Tumim Stone Capital LLC has committed to purchase the Company&#8217;s Common Stock.
The Registration Rights Agreement requires the Company to prepare and file a registration statement to cover the resale under the Securities
Act of registrable securities held by Tumim Stone Capital LLC. Such registration statement on Form S-1 (Registration No. 333-264727) was
filed by the Company with the SEC under the Securities Act on May 5, 2022, as amended by Post-Effective Amendment No. 1 to Form S-1 on
Form S-3 filed by the Company with the SEC under the Securities Act on September 26, 2022, and was declared effective by the SEC on September
30, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company is also a party to the Note Registration Rights Agreement entered
in connection with a transaction pursuant to which the Company has issued to 3i, LP a senior unsecured convertible promissory note and
a warrant to purchase the Company&#8217;s Common Stock. The Note Registration Rights Agreement requires the Company to prepare and file
a registration statement to cover the resale of the Company&#8217;s Common Stock issuable upon conversion of the note and/or exercise
of the warrant. Such registration statement on Form S-3 (Registration No. 333-267937) was filed by the Company with the SEC under the
Securities Act on October 19, 2023, and declared effective by the SEC on October 27, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Certain Provisions of Delaware Law, Our Certificate of Incorporation
and Our Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>Section&nbsp;203 of the Delaware General Corporation Law </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Section&nbsp;203 of the DGCL is applicable to takeovers of certain
Delaware corporations, including us. Subject to exceptions enumerated therein, Section&nbsp;203 provides that a corporation shall not
engage in any business combination with any &#8220;interested stockholder&#8221; for a three-year period following the date that the stockholder
becomes an interested stockholder unless:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>prior to that date, the board of directors of the corporation approved either the business combination or the transaction that resulted
in the stockholder becoming an interested stockholder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder
owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, though some shares may be
excluded from the calculation; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>on or subsequent to that date, the business combination is approved by the board of directors of the corporation and by the affirmative
votes of holders of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">The term &#8220;business combination&#8221; is defined to include,
among other transactions between an interested stockholder and a corporation or any direct or indirect majority owned subsidiary thereof:
a merger or consolidation; a sale, lease, exchange, mortgage, pledge, transfer or other disposition (including as part of a dissolution)
of assets having an aggregate market value equal to 10% or more of either the aggregate market value of all assets of the corporation
on a consolidated basis or the aggregate market value of all the outstanding stock of the corporation; certain transactions that would
result in the issuance or transfer by the corporation of any of its stock to the interested stockholder; certain transactions that would
increase the interested stockholder&#8217;s proportionate share ownership of the stock of any class or series of the corporation or such
subsidiary; and any receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges, or other financial
benefits provided by or through the corporation or any such subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Except as specified in Section&nbsp;203, an interested stockholder
is generally defined to include any person who, together with any affiliates or associates of that person, beneficially owns, directly
or indirectly, 15% or more of the outstanding voting stock of the corporation, or is an affiliate or associate of the corporation and
was the owner of 15% or more of the outstanding voting stock of the corporation, any time within three years immediately prior to the
relevant date. Under certain circumstances, Section&nbsp;203 makes it more difficult for an interested stockholder to effect various business
combinations with a corporation for a three-year period, although the stockholders may elect not to be governed by this section, by adopting
an amendment to the Amended Charter or the Bylaws, effective 12 months after adoption. Our Amended Charter and Bylaws do not opt out from
the restrictions imposed under Section&nbsp;203. We anticipate that the provisions of Section&nbsp;203 may encourage companies interested
in acquiring us to negotiate in advance with the board of directors because the stockholder approval requirement would be avoided if a
majority of the directors then in office excluding an interested stockholder approve either the business combination or the transaction
that resulted in the stockholder becoming an interested stockholder. These provisions may have the effect of deterring hostile takeovers
or delaying changes in control, which could depress the market price of our Common Stock and deprive stockholders of opportunities to
realize a premium on shares of Common Stock held by them.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Amended Charter and Bylaw Provisions </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">In addition to the board of directors&#8217; ability to issue shares
of preferred stock, our Amended Charter and Amended Bylaws contain the following provisions that may have the effect of discouraging unsolicited
acquisition proposals:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws classify the board of directors into three classes with staggered three-year terms (except
for certain initial year terms);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>under our Amended Charter and Amended Bylaws, our Board may enlarge the size of the board and fill the vacancies;</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws provide that a stockholder may not nominate candidates for the board of directors at any annual
or special meeting unless that stockholder notifies us of its intention a specified period in advance and provides us with certain required
information;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws provide that stockholders may remove our directors only for cause;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws provide that stockholders who wish to bring business before the stockholders at our annual
meeting must provide advance notice;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws provide that, except for limited exceptions, any action required or permitted to be taken by
the stockholders must be effected by a duly called annual or special meeting of such stockholders and may not be effected by written consent
of the stockholders; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>our Amended Charter and Amended Bylaws provide that special meetings of stockholders may only be called by the chairman of our Board,
our Chief Executive Officer, or our Board pursuant to a resolution adopted by a majority of our Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Our Amended Charter and Amended Bylaws also provide that, unless
we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive
forum for:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>any derivative action or proceeding brought on our behalf;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>any action asserting a claim of breach of a fiduciary duty owed by any director, officer, or other employee of the Company to us or
our stockholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>any action asserting a claim arising pursuant to any provision of the DGCL or our Charters; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.7pt"></TD><TD STYLE="width: 18.35pt">&#8226;</TD><TD>any action asserting a claim governed by the internal affairs doctrine.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Our Amended Charter and Amended Bylaws further provide that any
person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the company is deemed to have notice of
and consented to the foregoing provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Quorum. </I>Unless otherwise required by the DGCL or other applicable
law, the holders of a majority of the voting power of our capital stock issued and outstanding and entitled to vote thereat, present in
person or represented by proxy, will constitute a quorum at all meetings of the stockholders for the transaction of business except as
otherwise required by law or provided by the certificate of incorporation. If, however, such quorum will not be present or represented
at any meeting of the stockholders, such stockholders will have power to adjourn the meeting from time to time until a quorum shall attend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Authorized but Unissued Capital Stock</I>. The DGCL does not
require stockholder approval for any issuance of authorized shares. However, the listing requirements of NASDAQ, which would apply if
and so long as the Common Stock remains listed on NASDAQ, require stockholder approval of certain issuances equal to or exceeding 20%
of the then outstanding voting power or then outstanding number of shares of the Common Stock. Additional shares that may be issued in
the future may be used for a variety of corporate purposes, including future public offerings, to raise additional capital, or to facilitate
acquisitions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">One of the effects of the existence of unissued and unreserved common stock
may be to enable our Board to issue shares to persons friendly to current management, which issuance could render more difficult or discourage
an attempt to obtain control of the Company by means of a merger, tender offer, proxy contest, or otherwise and thereby protect the continuity
of management and possibly deprive stockholders of opportunities to sell their shares of the Common Stock at prices higher than prevailing
market prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Annual Stockholder Meetings. </I>Our Amended Bylaws provide that
annual stockholder meetings will be held at a date, time, and place, if any, as exclusively selected by our Board. To the extent permitted
under applicable law, our Board may conduct meetings by remote communications. Our Amended Bylaws provide that stockholders seeking to
bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting of
stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder&#8217;s notice will need to be received
by our Secretary at our principal executive offices not later than the close of business on the 90th day nor earlier than the open of
business on the 120th day prior to the anniversary date of the immediately preceding our annual meeting of stockholders. Pursuant to Rule
14a-8 of the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply with the notice periods contained in
the annual proxy statement. Our Amended Charter specifies certain requirements as to the form and content of a stockholders&#8217; meeting.
These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations
for directors at our annual meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">Our Amended Bylaws also specify certain requirements as to the form
and content of a stockholder&#8217;s notice for an annual meeting. Specifically, a stockholder&#8217;s notice must include: (i)&nbsp;a
brief description of the business desired to be brought before the annual meeting, the text of the proposal or business (including the
text of any resolutions proposed for consideration and in the event such business includes a proposal to amend the bylaws, the language
of the proposed amendment), and the reasons for conducting such business at the annual meeting, (ii)&nbsp;the name and record address
of such stockholder and the name and address of the beneficial owner, if any, on whose behalf the proposal is made, (iii)&nbsp;the class
or series and number of shares of our capital stock that are owned beneficially and of record by such stockholder and by the beneficial
owner, if any, on whose behalf the proposal is made, (iv)&nbsp;a description of all arrangements or understandings between such stockholder
and the beneficial owner, if any, on whose behalf the proposal is made and any other person or persons (including their names) in connection
with the proposal of such business by such stockholder, (v)&nbsp;any material interest of such stockholder and the beneficial owner, if
any, on whose behalf the proposal is made in such business, and (vi)&nbsp;a representation that such stockholder (or a qualified representative
of such stockholder) intends to appear in person or by proxy at the annual meeting to bring such business before the meeting. These notice
requirements will be deemed satisfied by a stockholder as to any proposal (other than nominations) if the stockholder has notified us
of such stockholder&#8217;s intention to present such proposal at an annual meeting in compliance with Rule 14a-8 (or any successor thereof)
of the Exchange Act, and such stockholder has complied with the requirements of such rule for inclusion of such proposal in a proxy statement
prepared by us to solicit proxies for such annual meeting. The foregoing provisions may limit our stockholders&#8217; ability to bring
matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Special Meetings</I>. The Amended Charter provides that special
meetings of our stockholders may be called only by the chairman of our Board, our Chief Executive Officer, or our Board pursuant to a
resolution adopted by a majority of our Board. Our stockholders will not be eligible and will have no right to call a special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Our Amended Bylaws also provide that unless otherwise restricted
by the Amended Charter or the Amended Bylaws, any action required or permitted to be taken at any meeting of our Board, or of any committee
thereof, may be taken without a meeting, if all members of our Board or committee thereof, as the case may be, consent thereto in writing
or by electronic transmission, and the writing or writings or electronic transmission or transmissions (or paper reproductions thereof)
are filed with the minutes of proceedings of our Board or committee thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Amendment. </I>The DGCL provides generally that the affirmative
vote of a majority of the outstanding stock entitled to vote on amendments to a corporation&#8217;s certificate of incorporation or bylaws
is required to approve such amendment, unless a corporation&#8217;s certificate of incorporation or bylaws, as the case may be, requires
a greater percentage. The Amended Bylaws may be amended, altered or repealed (A)&nbsp;by the affirmative vote of a majority of our entire
Board; or (B)&nbsp;by the affirmative vote of the holders of at least a majority of the voting power of the shares entitled to vote at
an election of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>Limitations on Liability and Indemnification of Officers and
Directors. </I>The DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their stockholders
for monetary damages for breaches of directors&#8217; fiduciary duties, subject to certain exceptions. We have entered, and expect to
continue to enter, into agreements to indemnify our directors, executive officers, and other employees as determined by our Board. Under
the terms of such indemnification agreements, we are required to indemnify each of our directors and officers, to the fullest extent permitted
by the laws of the state of Delaware, if the basis of the indemnitee&#8217;s involvement was by reason of the fact that the indemnitee
is or was a director or officer of the Company or any of its subsidiaries or was serving at the Company&#8217;s request in an official
capacity for another entity. We must indemnify our officers and directors against all expenses, judgments, fines, penalties, and amounts
paid in settlement (if pre-approved), including all costs, expenses, and obligations incurred in connection with investigating, defending,
being a witness in, participating in (including on appeal), or preparing to defend, be a witness or participate in any completed, actual,
pending, or threatened action, suit, proceeding, or alternative dispute resolution mechanism, whether civil, criminal, administrative,
investigative, or other, arising out of the officers&#8217; or directors&#8217; role as an officer or director of the Company, or establishing
or enforcing a right to indemnification under the indemnification agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DESCRIPTION OF DEBT SECURITIES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The following description, together with the
additional information we include in any applicable prospectus supplement, summarizes certain general terms and provisions of the debt
securities that we may offer in one or more series under this prospectus. When we offer to sell a particular series of debt securities,
we will describe the specific terms of the series in a supplement to this prospectus. We will also indicate in the supplement to what
extent the general terms and provisions described in this prospectus apply to a particular series of debt securities. To the extent the
information contained in the prospectus supplement differs from this summary description, you should rely on the information in the prospectus
supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">We will issue any senior debt securities under
the senior indenture which we will enter into with the trustee to be named in the senior indenture. We will issue any subordinated debt
securities under the subordinated indenture which we will enter into with the trustee to be named in the subordinated indenture. We have
filed forms of these indentures as exhibits to the registration statement of which this prospectus is a part, and supplemental indentures
and forms of debt securities containing the terms of the debt securities being offered will be filed as exhibits to the registration statement
of which this prospectus is a part or will be incorporated by reference from reports that we file with the SEC. Unless the context requires
otherwise, we use the term &#8220;indenture&#8221; to refer to both the senior indenture and the subordinated indenture, as well as to
refer to any supplemental indentures that specify the terms of a particular series of debt securities. Except as we may otherwise indicate,
the terms of the senior indenture and the subordinated indenture are identical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The indenture will be qualified under the Trust
Indenture Act of 1939. We use the term &#8220;trustee&#8221; to refer to either the senior trustee or the subordinated trustee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The following summary of material provisions
of the senior debt securities, the subordinated debt securities, and the indenture is subject to, and is qualified in its entirety by
reference to, all the provisions of the indenture applicable to a particular series of debt securities. We urge you to read the applicable
prospectus supplement related to the debt securities that we sell under this prospectus, as well as the complete indenture that contains
the terms of the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>General </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The indenture does not limit the aggregate principal
amount of debt securities that may be issued thereunder. The debt securities may be issued from time to time in one or more series and
the terms of each series of debt securities will be established by or pursuant to a resolution of our board of directors and set forth
in an officer&#8217;s certificate or a supplemental indenture. The particular terms of each series of debt securities will be described
in a prospectus supplement relating to that series (including any pricing supplement or term sheet), including the following terms, if
applicable:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the title of the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the price or prices (expressed as a percentage of the principal amount) at which we will sell the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the aggregate principal amount of the debt securities being offered and any limit on the aggregate principal amount of that series of debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">whether any of our direct or indirect subsidiaries will guarantee the debt securities, including the terms of subordination, if any, of those guarantees; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the terms of the subordination of any series of subordinated debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the date or dates on which the principal of the securities of the series is payable; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">the interest rate, if any, and the method for calculating the interest
    rate;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the identity of the trustee; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the dates from which interest will accrue, the interest payment dates and the record dates for the interest payments; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the place or places where the principal of, and any premium or interest on, the debt securities shall be payable, where the securities of that series may be surrendered for registration of transfer or exchange, and where notices and demands to us in respect of the debt securities may be delivered; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any mandatory or optional redemption terms; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any obligation we have to redeem or purchase the debt securities pursuant to any sinking fund or analogous provisions or at the option of a holder of debt securities and the period or periods within which, the price or prices at which and the terms and conditions upon which securities of the series shall be redeemed or purchased, in whole or in part, pursuant to that obligation; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any dates, if any, on which, and the price or prices at which, we will repurchase debt securities at the option of the holders of debt securities and other detailed terms and provisions of any such repurchase obligations; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the denominations in which the debt securities will be issued; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">whether the debt securities will be issued in the form of certificated debt securities or global debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if other than the principal amount thereof, the portion of the principal amount of the debt securities of the series that shall be payable upon declaration of acceleration of the maturity thereof; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if the debt securities are denominated in other than United States dollars, the currency or currencies (including composite currencies) in which the debt securities are denominated; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the designation of the currency, currencies, or currency units in which payment of the principal of, and any premium or interest on, the debt securities of the series will be made; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if payments of principal of, or any premium or interest on, the debt securities will be made in one or more currencies or currency units other than that or those in which the debt securities are denominated, the manner in which the exchange rate with respect to those payments will be determined; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the manner in which the amounts of payment of principal of, and any premium or interest on, the debt securities will be determined, including if these amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index, or financial index; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any provisions relating to any security provided for the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any addition to, deletion of, or change in the events of default described in this prospectus or in the indenture with respect to the debt securities and any change in the acceleration provisions described in this prospectus or in the indenture with respect to the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any addition to, deletion of, or change in the covenants described in this prospectus or in the indenture with respect to the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Any depositaries, interest rate calculation agents, exchange rate calculation agents, or other agents appointed with respect to the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the provisions, if any, relating to conversion or exchange of any series of debt securities, including if applicable, the conversion or exchange price and period, the securities or other property into which the debt securities will be convertible, provisions as to whether conversion or exchange will be mandatory, at the option of the holders thereof or at our option, the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if that series of debt securities is redeemed; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any other terms of the series of debt securities that may supplement, modify, or delete any provision of the indenture as it applies to that series, including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of the debt securities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">In addition, we will provide you with information
on the federal income tax considerations and other special considerations applicable to any of these debt securities in the applicable
prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">If we denominate the purchase price of any
of the debt securities in a foreign currency or currencies or a foreign currency unit or units, or if the principal of, or any premium
or interest on, any series of debt securities is payable in a foreign currency or currencies or a foreign currency unit or units, we will
provide you with information on the restrictions, elections, general tax considerations, specific terms, and other information with respect
to that issue of debt securities and the foreign currency or currencies or foreign currency unit or units in the applicable prospectus
supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Transfer and Exchange </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">Each debt security will be represented by either
one or more global securities registered in the name of The Depository Trust Company, as the depositary, or a nominee of the depositary
(we will refer to any such debt security as a &#8220;global debt security&#8221;), or a certificate issued in definitive registered form
(we will refer to any debt security represented by a certificate as a &#8220;certificated debt security&#8221;) as set forth in the applicable
prospectus supplement. Except as set forth below, global debt securities will not be issuable in certificated form.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 24.5pt"><I>Certificated Debt Securities.</I> You may
transfer or exchange certificated debt securities at any office we maintain for this purpose in accordance with the terms of the indenture.
No service charge will be made for any transfer or exchange of certificated debt securities, but we may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection with a transfer or exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">You may effect the transfer of certificated
debt securities and the right to receive the principal of and any premium and interest on certificated debt securities only by surrendering
the certificate representing those certificated debt securities and either reissuance by us or the trustee of the certificate to the new
holder or the issuance by us or the trustee of a new certificate to the new holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt"><I>Global Debt Securities and Book-Entry System.</I>
Each global debt security will be deposited with, or on behalf of, the depositary, and registered in the name of the depositary or a nominee
of the depositary. Beneficial interests in global debt securities will not be issuable in certificated form unless (i)&nbsp;the depositary
has notified us that it is unwilling or unable to continue as depositary for that global debt security or has ceased to be qualified to
act as such as required by the indenture and we fail to appoint a successor depositary within 90&nbsp;days of such event, (ii)&nbsp;we
determine, in our sole discretion, not to have those securities represented by one or more global securities, or (iii)&nbsp;any other
circumstances shall exist, in addition to or in lieu of those described above, as may be described in the applicable prospectus supplement.
Unless and until a global debt security is exchanged for certificated debt securities under the limited circumstances described in the
previous sentence, a global debt security may not be transferred except as a whole by the depositary to its nominee or by the nominee
to the depositary, or by the depositary or its nominee to a successor depositary or to a nominee of the successor depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Consolidation, Merger and Sale of Assets </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The indenture generally provides that we may
not consolidate with or merge with or into, sell, convey, transfer, or dispose of all or substantially all of our assets to another entity,
whether in one transaction or a series of related transactions, unless: (i)&nbsp;the resulting, surviving, or transferee entity (A)&nbsp;is
a corporation, limited liability corporation, partnership, or trust organized under the laws of the United States, any state thereof,
or the District of Columbia, and (B)&nbsp;expressly assumes by a supplemental indenture all of our obligations under the debt securities
and the indenture, (ii)&nbsp;immediately after giving effect to such transaction no Event of Default (as defined herein) and no circumstances
which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing, and (iii)&nbsp;we
shall have delivered to the trustee an officers&#8217; certificate and an opinion of counsel, each stating that such consolidation, merger,
or transfer and such supplemental indenture comply with the indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Events of Default </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt"><I>&#8220;Event of Default&#8221;</I> means
with respect to any series of debt securities, any of the following:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 5%; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-top: 6pt; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">default in the payment of any interest upon any debt security of that series when it becomes due and payable, and continuance of such default for a period of 30&nbsp;days (unless the entire amount of the payment is deposited by us with the trustee or with a paying agent prior to the expiration of the 30-day period); </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">default in the payment of principal of, or any premium on, any debt security of that series at its maturity; </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">default in the performance or breach of any covenant by us in the indenture (other than defaults described above or defaults relating to a covenant that has been included in the indenture solely for the benefit of a series of debt securities other than that series), which default continues uncured for a period of 90&nbsp;days after we receive written notice thereof; </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">the occurrence of specified events of bankruptcy, insolvency, or reorganization; and </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; text-indent: 24.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt"><FONT STYLE="font-size: 10pt">any other event of default provided with respect to a series of debt securities that is described in the applicable prospectus supplement. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">No event of default with respect to a particular
series of debt securities (except as to certain events of bankruptcy, insolvency, or reorganization) necessarily constitutes an event
of default with respect to any other series of debt securities. The occurrence of certain events of default or an acceleration under the
indenture may constitute an event of default under certain indebtedness of ours or our subsidiaries outstanding from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">If an event of default with respect to any series
of debt securities at the time outstanding occurs and is continuing (other than an event of default resulting from certain events of bankruptcy,
insolvency, or reorganization), then the trustee or the holders of not less than 25% in principal amount of the outstanding debt securities
of that series may, by a notice in writing to us (and to the trustee if given by the holders), declare to be due and payable immediately
the principal of (or, if the debt securities of that series are discount securities, that portion of the principal amount as may be specified
in the terms of that series) and accrued and unpaid interest, if any, on all debt securities of that series.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">In the case of an event of default resulting from certain events
of bankruptcy, insolvency, or reorganization, the principal amount (or such specified amount) of and accrued and unpaid interest, if any,
on all outstanding debt securities will become and be immediately due and payable without any declaration or other act on the part of
the trustee or any holder of outstanding debt securities. At any time after a declaration of acceleration with respect to debt securities
of any series has been made, but before a judgment or decree for payment of the money due has been obtained by the trustee, the holders
of a majority in principal amount of the outstanding debt securities of that series, by written notice to us and the trustee, may rescind
and annul such declaration of acceleration and its consequences if all events of default, other than the non-payment of accelerated principal
and interest, if any, with respect to debt securities of that series, have been cured or waived as provided in the indenture. We refer
you to the prospectus supplement relating to any series of debt securities that are discount securities for the particular provisions
relating to acceleration of a portion of the principal amount of those discount securities upon the occurrence of an event of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The indenture provides that the trustee will
be under no obligation to perform any duty or exercise any of its rights or powers under the indenture unless the trustee receives indemnity
satisfactory to it against any cost, liability, or expense which might be incurred by it in performing that duty or exercising that right
or power. Subject to certain rights of the trustee, the holders of a majority in principal amount of the outstanding debt securities of
any series will have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the trustee
or exercising any trust or power conferred on the trustee with respect to the debt securities of that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">No holder of any debt security of any series
will have any right to institute any proceeding, judicial or otherwise, with respect to the indenture or for the appointment of a receiver
or trustee, or for any remedy under the indenture, unless:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">that holder has previously given to the trustee written notice of a continuing event of default with respect to debt securities of that series; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the holders of not less than 25% in principal amount of the outstanding debt securities of that series have made written request to the trustee to institute the proceedings in respect of that event of default in its own name as trustee under the indenture; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">such holder or holders have offered to the trustee indemnity or security satisfactory to the trustee against the costs, expenses, and liabilities which might be incurred by the trustee in compliance with the request; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the trustee has failed to institute any such proceeding for 60&nbsp;days after its receipt of such notice, request, and offer of indemnity; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">no direction inconsistent with the written request has been given to the trustee during that 60-day period by holders of a majority in principal amount of the outstanding debt securities of that series. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">Notwithstanding any other provision in the
indenture, the holder of any debt security will have an absolute and unconditional right to receive payment of the principal of, and any
interest on, that debt security on or after the due dates expressed in that debt security (or, in the case of redemption, on the redemption
date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such
holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The indenture requires us, within 120&nbsp;days
after the end of our fiscal year, to furnish to the trustee a statement as to compliance with the indenture from our principal executive
officer, principal financial officer, or principal accounting officer. If a default or event of default occurs and is continuing with
respect to the debt securities of any series and if it is actually known to a responsible officer of the trustee, the trustee shall mail
to each holder of the debt securities of that series notice of a default or event of default within 90&nbsp;days after it occurs or, if
later, after a responsible officer of the trustee has knowledge of such default or event of default. The indenture provides that the trustee
may withhold notice to the holders of debt securities of any series of any default or event of default (except in payment on any debt
securities of that series) with respect to debt securities of that series if the trustee determines in good faith that withholding notice
is in the interest of the holders of those debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Modification and Waiver </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">We and the trustee may modify and amend or supplement
the indenture or the debt securities of one or more series without the consent of any holder of any debt security:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to add guarantees with respect to debt securities of a series or secure debt securities of a series; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to surrender any of our rights or powers under the indenture; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to add covenants or events of default for the benefit of the holders of any series of debt securities; </FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to secure the debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to comply with the applicable rules or procedures of any applicable depositary; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to cure any ambiguity, defect, or inconsistency; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to comply with the provisions of the indenture concerning consolidations, mergers, and transfers of all or substantially all of our assets; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to provide for uncertificated securities in addition to or in place of certificated securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to make any change that does not materially adversely affect the rights of any holder of that series of debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to effect the appointment of a successor trustee with respect to the debt securities of any series and to add to or change any of the provisions of the indenture to provide for or facilitate administration by more than one trustee; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to comply with requirements of the SEC in order to effect or maintain the qualification of the indenture under the Trust Indenture Act; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the debt securities may be listed or traded; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">to provide for the issuance of and establish the form and terms and conditions of debt securities of any series as permitted by the indenture; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">for certain other reasons set forth in any prospectus supplement. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">We may also modify and amend the indenture
with the consent of the holders of at least a majority in principal amount of the outstanding debt securities of each series affected
by the modifications or amendments. We may not make any modification or amendment without the consent of the holders of each affected
debt security then outstanding if that amendment will:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">reduce the principal amount of debt securities of that series whose holders must consent to an amendment, supplement, or waiver; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">reduce the rate of or extend the time for payment of interest (including default interest) on any debt security or that series; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">reduce the principal of, or change the fixed maturity of, any debt security of that series or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation with respect to that series of debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">reduce the principal amount of discount securities of that series payable upon acceleration of maturity; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">waive a default in the payment of the principal of, or interest, if any, on any debt security of that series (except a rescission of acceleration of the debt securities of any series by the holders of at least a majority in principal amount of the then outstanding debt securities of that series and a waiver of the payment default that resulted from such acceleration); </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">make the principal of, or any interest on, any debt security of that series payable in currency other than that stated in the debt security; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">make any change to certain provisions of the indenture relating to, among other things, (i)&nbsp;the right of holders of debt securities to receive payment of the principal of, and any interest on, those debt securities and to institute suit for the enforcement of any such payment, and (ii)&nbsp;waivers or amendments; or </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">waive a redemption payment with respect to any debt security of that series, provided that such redemption is made at our option. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Except for certain specified provisions, the holders
of at least a majority in principal amount of the outstanding debt securities of any series may, on behalf of the holders of all debt
securities of that series, by written notice to the trustee, waive our compliance with provisions of the indenture or the debt securities
with respect to that series. The holders of a majority in principal amount of the outstanding debt securities of any series may, on behalf
of the holders of all the debt securities of that series, waive any past default under the indenture with respect to that series and its
consequences, except a default in the payment of the principal of, or any interest on, any debt security of that series; provided, however,
that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an acceleration and its
consequences, including any related payment default that resulted from the acceleration.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><B>Satisfaction and Discharge of Indenture </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The indenture shall cease to be of further effect
with respect to a series of debt securities when either:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">we have delivered to the trustee for cancellation all outstanding debt securities of that series, other than any debt securities that have been destroyed, lost or stolen and that have been replaced or paid as provided in the indenture; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">all outstanding debt securities of that series that have not been delivered to the trustee for cancellation have become due and payable or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the trustee for the giving of notice of redemption, and we have irrevocably deposited with the trustee as trust funds the entire amount, in cash in U.S. dollars or U.S. governmental obligations, sufficient to pay at maturity or upon redemption all debt securities of that series, including principal of and any premium and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be; or </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">we have properly fulfilled any other means of satisfaction and discharge that may be set forth in the terms of the debt securities of that series. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">In each case, we will also pay all other sums
payable by us under the indenture with respect to the debt securities of that series and deliver to the trustee an opinion of counsel
and an officers&#8217; certificate, each stating that all conditions precedent to satisfaction and discharge with respect to the debt
securities of that series have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Defeasance </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt"><I>Legal Defeasance.</I> The indenture provides
that, unless otherwise provided by the terms of the applicable series of debt securities, we may be discharged from any and all obligations
in respect of the debt securities of any series (subject to certain exceptions). We will be so discharged upon the deposit with the trustee,
in trust, of money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S.
dollars, government obligations of the government that issued or caused to be issued such currency, that, through the payment of interest
and principal in accordance with their terms, will provide money in an amount sufficient in the opinion of a nationally recognized firm
of independent public accountants or investment bank to pay and discharge each installment of principal of and interest, if any, on and
any mandatory sinking fund payments in respect of the debt securities of that series on the stated maturity of those payments in accordance
with the terms of the indenture and those debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">This discharge may occur only if, among other
things, we have delivered to the trustee an opinion of counsel stating that we have received from, or there has been published by, the
United States Internal Revenue Service a ruling or, since the date of execution of the indenture, there has been a change in the applicable
United States federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the holders
of the debt securities of that series will not recognize income, gain, or loss for United States federal income tax purposes as a result
of the deposit, defeasance, and discharge and will be subject to United States federal income tax on the same amounts and in the same
manner and at the same times as would have been the case if the deposit, defeasance, and discharge had not occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt"><I>Defeasance of Certain Covenants.</I> The
indenture provides that, unless otherwise provided by the terms of the applicable series of debt securities, upon compliance with certain
conditions:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">we may be released from our obligations with respect to certain covenants set forth in the indenture, as well as any additional covenants which may be set forth in the applicable prospectus supplement and supplemental indenture; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any omission to comply with those covenants will not constitute a default or an event of default with respect to the debt securities of that series (&#8220;covenant defeasance&#8221;). </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The conditions include:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">depositing with the trustee money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S. dollars, government obligations of the government that issued or caused to be issued such currency, that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or investment bank to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the debt securities of that series on the stated maturity of those payments in accordance with the terms of the indenture and those debt securities; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">delivering to the trustee an opinion of counsel to the effect that the holders of the debt securities of that series will not recognize income, gain, or loss for United States federal income tax purposes as a result of the deposit and related covenant defeasance and will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as would have been the case if the deposit and related covenant defeasance had not occurred; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">delivering to the trustee an opinion of counsel and an officer&#8217;s certificate, each stating that all conditions precedent to defeasance with respect to the debt securities of that series have been complied with. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Governing Law </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The indenture and any debt securities issued
thereunder will be governed by and construed in accordance with the laws of the State of New York (without regard to the conflicts of
law provisions other than Section&nbsp;5-1401 of the New York General Obligations Law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Subordination of Subordinated Debt Securities </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">The subordinated debt securities will be subordinate
and junior in priority to certain of our other indebtedness to the extent described in a prospectus supplement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DESCRIPTION OF WARRANTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">We may issue warrants to purchase shares of
our common stock, shares of our preferred stock, or debt securities. We may issue warrants independently of or together with shares of
our common stock, shares of our preferred stock, debt securities, or other securities offered by any prospectus supplement. Warrants sold
with other securities may be attached to or separate from shares of our common stock, shares of our preferred stock, debt securities,
or other securities. We may issue warrants under one or more warrant agreements between us and a bank or trust company, as warrant agent,
that we will name in the prospectus supplement relating to the particular issue of offered warrants. If we appoint a warrant agent, such
warrant agent will act solely as our agent in connection with the warrants and will not assume any obligation or relationship of agency
or trust for or with any holders or beneficial owners of warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The prospectus supplement relating to any warrants
we offer will include specific terms relating to the offering. These terms may include some or all of the following:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the title of the warrants; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the aggregate number of warrants to be offered; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the price or prices at which the warrants will be issued; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the currency or currencies, including composite currencies, in which the price of the warrants may be payable; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the designation and terms of the securities purchasable upon exercise of the warrants and the number of securities issuable upon exercise of the warrants; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the price at which and the currency or currencies, including composite currencies, in which the securities purchasable upon exercise of the warrants may be purchased; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the date on which the right to exercise the warrants shall commence and the date on which that right will expire; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, the terms related to any permitted adjustment in the exercise price of or number of securities covered by the warrants; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, the date on and after which the warrants and the related securities will be separately transferable; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, a discussion of any material federal income tax considerations; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any other terms of the warrants, including terms, procedures, and limitations relating to the exchange and exercise of warrants. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Exercise of Warrants </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">Each warrant will entitle the holder to purchase
the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in the applicable prospectus
supplement. Holders of the warrants may exercise the warrants at any time up to the specified time on the expiration date that we set
forth in the applicable prospectus supplement. After the specified time on the expiration date, unexercised warrants will become void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">Warrants may be exercised as described in the
applicable prospectus supplement. Upon receipt of the required payment and the warrant certificate properly completed and duly executed
at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, we will, as
soon as practicable, issue and deliver the underlying securities purchasable upon such exercise. If fewer than all of the warrants represented
by a warrant certificate are exercised, we will issue a new warrant certificate for the remaining amount of warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The description in the applicable prospectus
supplement of any warrants we offer will not necessarily be complete and will be qualified in its entirety by reference to the applicable
form of warrant agreement, including a form of warrant certificate, which will describe the terms of the series of warrants being offered
and which will be filed with the SEC and incorporated by reference in the registration statement of which this prospectus is a part.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DESCRIPTION OF RIGHTS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">We may issue rights for the purchase of shares
of our common stock, shares of our preferred stock, or debt securities. Each series of rights will be issued under a separate rights agreement
to be entered into with a bank or trust company, as rights agent, all as set forth in the applicable prospectus supplement. The rights
agent will act solely as our agent in connection with the certificates relating to the rights and will not assume any obligation or relationship
of agency or trust with any holders of rights certificates or beneficial owners of rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The prospectus supplement relating to any rights
we offer will describe the specific terms of those rights. These terms may include some or all of the following:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the date for determining the persons entitled to participate in the rights distribution; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the title and aggregate number or amount of underlying securities purchasable upon exercise of the rights and the exercise price; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the aggregate number of rights being issued; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the date, if any, on and after which the rights may be transferable separately; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the date on which the right to exercise the rights will commence and the date on which the right will expire; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the number of rights outstanding, if any; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">if applicable, a discussion of any material federal income tax considerations; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any other terms of the rights, including the terms, procedures and limitations relating to the distribution, exchange and exercise of the rights. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The description in the applicable prospectus
supplement of any rights we offer will not necessarily be complete and will be qualified in its entirety by reference to the applicable
form of rights agreement, which will describe the terms of the series of rights being offered and which will be filed with the SEC and
incorporated by reference in the registration statement of which this prospectus is a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DESCRIPTION OF UNITS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">We may issue units comprising two or more securities
described in this prospectus in any combination. For example, we might issue units consisting of a combination of debt securities and
warrants to purchase common stock. The following description sets forth certain general terms and provisions of the units that we may
offer pursuant to this prospectus. The particular terms of the units and the extent, if any, to which the general terms and provisions
may apply to the units so offered will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">Each unit will be issued so that the holder
of the unit also is the holder of each security included in the unit. Thus, the unit will have the rights and obligations of a holder
of each included security. Units will be issued pursuant to the terms of a unit agreement, which may provide that the securities included
in the unit may not be held or transferred separately at any time or at any time before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The prospectus supplement relating to any particular
issuance of units we offer will describe the terms of those units. These terms may include some or all of the following:</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">the designation and terms of the units and the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">any provision for the issuance, payment, settlement, transfer, or exchange of the units or of the securities comprising the units; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">whether the units will be issued in fully registered or global form. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">The description in the applicable prospectus
supplement of any units we offer will not necessarily be complete. Such description will be qualified in its entirety by reference to
the applicable form of unit agreement, including a form of unit certificate, which will describe the terms of the series of units being
offered and which will be filed with the SEC and incorporated by reference in the registration statement of which this prospectus is a
part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Plan" TITLE="plan"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We may sell the securities through underwriters or
dealers, through agents, directly to one or more purchasers, through a rights offering, or otherwise. We will describe the terms of the
offering of the securities in a prospectus supplement, information incorporated by reference, or related free writing prospectus, including:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the name or names of any underwriters, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the purchase price of the securities and the proceeds we will receive from the sale;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any underwriting discounts and other items constituting underwriters&#8217; compensation;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any initial public offering price;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any discounts or concessions allowed or reallowed or paid to dealers; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any securities exchange or market on which the securities may be listed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Only underwriters we name in the prospectus supplement,
information incorporated by reference, or related free writing prospectus are underwriters of the securities offered thereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">The distribution of securities may be effected, from
time to time, in one or more transactions, including:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchases by a broker-dealer as principal and resale by such broker-dealer for its own account pursuant to this prospectus;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ordinary brokerage transactions and transactions in which the broker solicits purchasers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>block trades in which the broker-dealer so engaged will attempt to sell the shares as agent but may position and resell a portion
of the block as principal to facilitate the transaction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an over-the-counter distribution in accordance with the rules of the Nasdaq;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>through trading plans entered into by a Selling Securityholder pursuant to Rule 10b5-1 under the Exchange Act, that are in place at
the time of an offering pursuant to this prospectus and any applicable prospectus supplement hereto that provide for periodic sales of
their securities on the basis of parameters described in such trading plans;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to or through underwriters or broker-dealers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>settlement of short sales entered into after the date of this prospectus;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>agreements with broker-dealers to sell a specified number of securities at a stipulated price per share and/or warrant;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in &#8220;at the market&#8221; offerings, as defined in Rule 415 under the Securities Act, at negotiated prices, at prices prevailing
at the time of sale or at prices related to such prevailing market prices, including sales made directly on a national securities exchange
or sales made through a market maker other than on an exchange or other similar offerings through sales agents;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in privately negotiated transactions, whether through an options exchange or otherwise;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in options transactions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>through a combination of any of the above methods of sale; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other method permitted pursuant to applicable law.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">The securities may be sold at a fixed price or prices,
which may be changed, or at market prices prevailing at the time of sale, at prices relating to the prevailing market prices, or at negotiated
prices. The consideration may be cash or another form negotiated by the parties. Agents, underwriters, or broker-dealers may be paid compensation
for offering and selling the securities. That compensation may be in the form of discounts, concessions, or commissions to be received
from us or from the purchasers of the securities. Dealers and agents participating in the distribution of the securities may be deemed
to be underwriters, and compensation received by them on resale of the securities may be deemed to be underwriting discounts and commissions
under the Securities Act. If such dealers or agents were deemed to be underwriters, they may be subject to statutory liabilities under
the Securities Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">We may also make direct sales through subscription
rights distributed to our existing stockholders on a pro rata basis, which may or may not be transferable. In any distribution of subscription
rights to our stockholders, if all of the underlying securities are not subscribed for, we may then sell the unsubscribed securities directly
to third parties or may engage the services of one or more underwriters, dealers, or agents, including standby underwriters, to sell the
unsubscribed securities to third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Some or all of the securities that we offer though
this prospectus may be new issues of securities with no established trading market. Any underwriters to whom we sell our securities for
public offering and sale may make a market in those securities, but they will not be obligated to do so and they may discontinue any market
making at any time without notice. Accordingly, we cannot assure you of the liquidity of, or continued trading markets for, any securities
that we offer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Agents may, from time to time, solicit offers to purchase
the securities. If required, we will name in the applicable prospectus supplement, document incorporated by reference, or related free
writing prospectus, as applicable, any agent involved in the offer or sale of the securities and set forth any compensation payable to
the agent. Unless otherwise indicated, any agent will be acting on a best efforts basis for the period of its appointment. Any agent selling
the securities covered by this prospectus may be deemed to be an underwriter, as that term is defined in the Securities Act, of the securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">If underwriters are used in an offering, securities
will be acquired by the underwriters for their own account and may be resold, from time to time, in one or more transactions, including
negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale, or under delayed delivery
contracts, or other contractual commitments. Securities may be offered to the public either through underwriting syndicates represented
by one or more managing underwriters or directly by one or more firms acting as underwriters. If an underwriter or underwriters are used
in the sale of securities, an underwriting agreement will be executed with the underwriter or underwriters at the time an agreement for
the sale is reached. The applicable prospectus supplement will set forth the managing underwriter or underwriters, as well as any other
underwriter or underwriters, with respect to a particular underwritten offering of securities, and will set forth the terms of the transactions,
including compensation of the underwriters and dealers and the public offering price, if applicable. The prospectus, and the applicable
prospectus supplement and any applicable free writing prospectus will be used by the underwriters to resell the securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">If a dealer is used in the sale of the securities,
we or an underwriter will sell the securities to the dealer, as principal. The dealer may then resell the securities to the public at
varying prices to be determined by the dealer at the time of resale. To the extent required, we will set forth in the prospectus supplement,
document incorporated by reference, or related free writing prospectus, as applicable, the name of the dealer and the terms of the transactions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">We may directly solicit offers to purchase the securities
and may make sales of securities directly to institutional investors or others. These persons may be deemed to be underwriters within
the meaning of the Securities Act with respect to any resale of the securities. To the extent required, the prospectus supplement, document
incorporated by reference, or related free writing prospectus, as applicable, will describe the terms of any such sales, including the
terms of any bidding or auction process, if used.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Agents, underwriters, and dealers may be entitled
under agreements which may be entered into with us to indemnification against specified liabilities, including liabilities incurred under
the Securities Act, or to contribution to payments they may be required to make in respect of such liabilities. If required, the prospectus
supplement, document incorporated by reference, or related free writing prospectus, as applicable, will describe the terms and conditions
of such indemnification or contribution. Some of the agents, underwriters, or dealers, or their affiliates, may be customers of, engage
in transactions with or perform services for us, our subsidiaries, or affiliates in the ordinary course of business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Under the securities laws of some states, the securities
offered by this prospectus may be sold in those states only through registered or licensed brokers or dealers.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Any person participating in the distribution of common
stock registered under the registration statement that includes this prospectus will be subject to applicable provisions of the Exchange
Act, and the applicable SEC rules and regulations, including, among others, Regulation M, which may limit the timing of purchases and
sales of any of our common stock by any such person. Furthermore, Regulation M may restrict the ability of any person engaged in the distribution
of our common stock to engage in market-making activities with respect to our common stock. These restrictions may affect the marketability
of our common stock and the ability of any person or entity to engage in market-making activities with respect to our common stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Certain persons participating in an offering may engage
in over-allotment, stabilizing transactions, short-covering transactions, and penalty bids in accordance with Regulation M under the Exchange
Act that stabilize, maintain, or otherwise affect the price of the offered securities. If any such activities will occur, they will be
described in the applicable prospectus supplement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">To the extent required, this prospectus may be amended
or supplemented from time to time to describe a specific plan of distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">All securities we offer other than common stock will
be new issues of securities with no established trading market. Any underwriters may make a market in these securities, but will not be
obligated to do so and may discontinue any market making at any time without notice. We cannot guarantee the liquidity of the trading
markets for any securities.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Legal" TITLE="legal"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">Unless otherwise indicated in the applicable
prospectus supplement, certain legal matters regarding the validity of the securities to be offered by this prospectus will be passed
upon for us by Shearman&nbsp;&amp; Sterling LLP, Menlo Park, California. Additional legal matters may be passed upon for us or any underwriters,
dealers, or agents by counsel that will be named in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Experts" TITLE="experts"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">The
financial statements of AEye, Inc. as of December 31, 2022, and 2021 and for each of the two years in the period ended December 31, 2022,
incorporated by reference in this Prospectus, have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting
firm, as stated in their report. Such financial statements are incorporated by reference in reliance upon the report of such firm given
their authority as experts in accounting and auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Where" TITLE="where"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><FONT STYLE="background-color: white">This prospectus
is part of a registration statement on&nbsp;Form&nbsp;S-3&nbsp;that we filed with the SEC.&nbsp;</FONT>This prospectus, which constitutes
a part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits
and schedules filed therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are required to file annual, quarterly, and current
reports, proxy statements and other information with the SEC as required by the Exchange Act. You can read our SEC filings, including
this prospectus, over the Internet at the SEC&#8217;s website at http://www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our website address is https://www.aeye.ai/. Through
our website, we make available, free of charge, the following documents as soon as reasonably practicable after they are electronically
filed with, or furnished to, the SEC, including our Annual Reports on Form 10-K; our proxy statements for our annual and special stockholder
meetings; our Quarterly Reports on Form 10-Q; our Current Reports on Form 8-K; Forms 3, 4, and 5, and Schedules 13D with respect to our
securities filed on behalf of our directors and our executive officers; and amendments to those documents. The information contained on,
or that may be accessed through, our website is not a part of, and is not incorporated into, this prospectus.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">This prospectus and any applicable prospectus
supplement are part of a registration statement that we filed with the SEC, but do not contain all of the information in the registration
statement. The full registration statement may be obtained from the SEC or us, as provided below. Forms of any indenture or other documents
establishing the terms of the offered securities are filed as exhibits to the registration statement of which this prospectus forms a
part, or will be filed through an amendment to our registration statement on Form S-3, or under cover of a Current Report on Form 8-K,
or other document filed with the SEC and incorporated into this prospectus by reference. Statements in the prospectus or any prospectus
supplement about these documents are summaries and each statement is qualified in all respects by reference to the document to which it
refers. You should refer to the actual documents for a more complete description of the relevant matters. You may inspect a copy of the
registration statement through the SEC&#8217;s website, as provided above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B><A NAME="Information" TITLE="information"></A>INFORMATION INCORPORATED BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">The SEC rules allow us to &#8220;incorporate
by reference&#8221; information into this prospectus, which means that we can disclose important information to you by referring you to
another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, and
subsequent information that we file with the SEC will automatically update and supersede that information. Any statement contained in
this prospectus or a previously filed document incorporated by reference will be deemed to be modified or superseded for purposes of this
prospectus to the extent that a statement contained in this prospectus or a subsequently filed document incorporated by reference modifies
or replaces that statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">This prospectus and any accompanying prospectus
supplement incorporate by reference the documents set forth below that have previously been filed with the SEC:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 16, 2023;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">our Quarterly Reports on Form&nbsp;10-Q&nbsp;for the quarterly periods ended March&nbsp;31,
2023 and June&nbsp;30, 2023, filed with the SEC on&nbsp;May 11, 2023 and&nbsp;August 9, 2023, respectively;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Definitive Proxy Statement on Schedule 14A for the 2023 Annual Meeting of Stockholders, filed with the SEC on March 20, 2023;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our Current Reports on Form 8-K filed with the SEC on January 17, 2023, January 25, 2023, February 1, 2023, February 27, 2023, March
15, 2023 (other than Item 2.02 and Item 9.01), March 29, 2023, May 3, 2023, May 23, 2023, July 20, 2023 and August 18, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">All reports and other documents we subsequently
file pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act in this prospectus, prior to the termination of this offering,
including all such documents we may file with the SEC after the date of the initial registration statement and prior to the effectiveness
of the registration statement, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated
by reference into this prospectus and deemed to be part of this prospectus from the date of the filing of such reports and documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">You may request a free copy of any documents
incorporated by reference in this prospectus by writing or telephoning us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">AEye, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">Attn: General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">One Park Place, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">Dublin, CA 94568</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">(925) 400-4366</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">Exhibits to the filings will not be sent,
however, unless those exhibits have been specifically incorporated by reference in this prospectus or any accompanying prospectus supplement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 55.45pt"><B>Item&nbsp;14.</B></TD><TD><B>Other Expenses of Issuance and Distribution. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">The following table indicates the estimated expenses to be incurred
in connection with the offering described in this registration statement, other than underwriting discounts and commissions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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  <TR>
    <TD STYLE="width: 85%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Amount</B></P>
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  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Securities and Exchange Commission registration fee&#9;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,040</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Accounting fees and expenses&#9;</FONT></TD>
    <TD STYLE="padding-left: 0.1in; white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Legal fees and expenses&#9;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Financial printing and miscellaneous expenses&#9;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">
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  <TR>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Total expenses&#9;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt; padding-left: 0.1in"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0 9pt; text-indent: -9pt">* Estimated expenses are not presently
known. The foregoing sets forth the general categories of expenses we expect we will incur in connection with the offering of securities
under this registration statement. An estimate of the aggregate expenses in connection with the issuance and the distribution of the securities
being offered will be included in the applicable prospectus supplement.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 55.45pt"><B>Item&nbsp;15.</B></TD><TD><B>Indemnification of Directors and Officers. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Section&nbsp;102 of the DGCL permits a corporation to eliminate the
personal liability of directors and officers of a corporation to the corporation or its stockholders for monetary damages for a breach
of fiduciary duty as a director or officer, except where the director or officer breached his duty of loyalty, failed to act in good faith,
engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in
violation of Delaware corporate law, or obtained an improper personal benefit. Our Amended Charter provides that no director or officer
of the Registrant shall be personally liable to it or its stockholders for monetary damages for any breach of fiduciary duty as a director
or officer, notwithstanding any provision of law imposing such liability, except to the extent that the DGCL prohibits the elimination
or limitation of liability of directors for breaches of fiduciary duty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Section&nbsp;145 of the DGCL provides that a corporation has the
power to indemnify a director, officer, employee, or agent of the corporation, or a person serving at the request of the corporation for
another corporation, partnership, joint venture, trust, or other enterprise in related capacities against expenses (including attorneys&#8217;
fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by the person in connection with an action, suit,
or proceeding to which he was or is a party or is threatened to be made a party to any threatened, ending, or completed action, suit,
or proceeding by reason of such position, if such person acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his
or her conduct was unlawful, except that, in the case of actions brought by or in the right of the corporation, no indemnification shall
be made with respect to any claim, issue, or matter as to which such person shall have been adjudged to be liable to the corporation unless
and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but
in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the
Court of Chancery or such other court shall deem proper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Our Amended Charter provides that we will indemnify each person
who was or is a party or threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding (other than
an action by or in the right of us) by reason of the fact that he or she is or was, or has agreed to become, a director or officer, or
is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee, or trustee of, or in a similar capacity
with, another corporation, partnership, joint venture, trust, or other enterprise (all such persons being referred to as an &#8220;Indemnitee&#8221;),
or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&#8217; fees),
judgments, fines, and amounts paid in settlement actually and reasonably incurred in connection with such action, suit, or proceeding
and any appeal therefrom, if such Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed
to, our best interests, and, with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her
conduct was unlawful. Our Amended Charter provides that we will indemnify any Indemnitee who was or is a party to an action or suit by
or in the right of us to procure a judgment in our favor by reason of the fact that the Indemnitee is or was, or has agreed to become,
a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee, or trustee
of, or in a similar capacity with, another corporation, partnership, joint venture, trust, or other enterprise, or by reason of any action
alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&#8217; fees) and, to the extent permitted
by law, amounts paid in settlement actually and reasonably incurred in connection with such action, suit, or proceeding, and any appeal
therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests,
except that no indemnification shall be made with respect to any claim, issue, or matter as to which such person shall have been adjudged
to be liable to us, unless a court determines that, despite such adjudication but in view of all of the circumstances, he or she is entitled
to indemnification of such expenses. Notwithstanding the foregoing, to the extent that any Indemnitee has been successful, on the merits
or otherwise, he or she will be indemnified by us against all expenses (including attorneys&#8217; fees) actually and reasonably incurred
in connection therewith. Expenses must be advanced to an Indemnitee under certain circumstances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We have entered into indemnification agreements with each of our
directors and officers. These indemnification agreements may require us, among other things, to indemnify our directors and officers for
some expenses, including attorneys&#8217; fees, judgments, fines, and settlement amounts incurred by a director or officer in any action
or proceeding arising out of his or her service as one of our directors or officers, or any of our subsidiaries or any other company or
enterprise to which the person provides services at our request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">We maintain a general liability insurance policy that covers certain
liabilities of directors and officers of our corporation arising out of claims based on acts or omissions in their capacities as directors
or officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">In any underwriting agreement we enter into in connection with the
sale of Common Stock being registered hereby, the underwriters will agree to indemnify, under certain conditions, us, our directors, our
officers, and persons who control us within the meaning of the Securities Act against certain liabilities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 55.45pt"><B>Item&nbsp;16.</B></TD><TD><B>Exhibits and Financial Statement Schedules. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 12pt">(a) <B>Exhibits.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 65%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 10%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 9%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Incorporated by
    Reference</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Exhibit</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Description</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit</B></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="border-bottom: Black 0.5pt solid; font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Filing<BR>
    Date</B></P></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1.1*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Underwriting Agreement</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2.1&#8224;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000121390021025902/fs42021_cffinanceacq3.htm">Merger Agreement, dated as of February 17, 2021, by and among the Company, Merger Sub and AEye Technologies</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">S-4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5/13/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2.2&#8224;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000121390021025902/fs42021_cffinanceacq3.htm">Amendment to the Merger Agreement, dated as of April 30, 2021, by and among the Company, Merger Sub and AEye Technologies</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">S-4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5/13/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000119312521253301/d188241dex31.htm">Second Amended and Restated Certificate of Incorporation of AEye, Inc.</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8-K</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8/23/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000181864423000006/exhibit32amendmentofcertif.htm">Certificate of Amendment of the Second Amended and Restated Certificate of Incorporation of AEye, Inc.</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10-Q</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5/11/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000119312521253301/d188241dex32.htm">Amended and Restated Bylaws of AEye, Inc.</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8-K</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8/23/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787121001285/ss682453_ex0401.htm">Registration Rights Agreement by and between AEye, Inc. and Tumim Stone Capital LLC, dated December 8, 2021</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8-K/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">12/15/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787122000970/ss1339800_ex1002.htm">Registration Rights Agreement by and between AEye, Inc. and 3i, LP, dated September 15, 2022</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8-K</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">09/16/2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.3*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Certificate of Designation of Preferred Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.4*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Indenture for Debt Securities</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.5*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Warrant Agreement and Warrant Certificate</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.6*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Rights Agreement</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">4.7*</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Form of Unit Agreement and Unit Certificate</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.8#</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex0408.htm">Form of Indenture for Senior Debt Securities</A></A></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.9#</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex0409.htm">Form of Indenture for Subordinated Debt Securities</A></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5.1#</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">
    <A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex0501.htm">Opinion of Shearman &amp; Sterling LLP</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">23.1#</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">
    <A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex2301.htm">Consent of Deloitte &amp; Touche LLP (with respect to AEye, Inc. financial statements)</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">23.2#</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">
    <A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex0501.htm">Consent of Shearman &amp; Sterling LLP (included in Exhibit 5.1)</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">24.1#</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">
    <A HREF="#a_001">Power of Attorney (included on the signature page hereto)</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">107#</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">
    <A HREF="https://www.sec.gov/Archives/edgar/data/1818644/000094787123000937/ss2458497_ex107.htm">Filing Fee Table</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&#8224; Certain exhibits and schedules to this Exhibit have been omitted
in accordance with Regulation S-K Item 601(a)(5), which the Registrant agrees to furnish supplementally to the SEC upon its request.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"># Filed Herewith.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">* To be filed as an amendment or as an exhibit to a document filed under
the Exchange Act and incorporated by reference into this registration statement.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">^ To be filed, if necessary, separately under the electronic form type 305B2
pursuant to Section 305(B)(2) of the Trust Indenture Act of 1939, as amended.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">(b) <B>Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">Schedules not listed above have been omitted because the information
required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 55.45pt"><B>Item&nbsp;17.</B></TD><TD><B>Undertakings. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">(a) The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 0.5in">(1) to file, during any period in which offers
or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in; text-indent: 0.5in">(i)&nbsp;to include any prospectus required
by Section&nbsp;10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in">(ii)&nbsp;to reflect in the prospectus any facts
or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the
form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the
effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 1in">(iii)&nbsp;to include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information
in the registration statement; provided, however, that paragraphs (i), (ii), and (iii)&nbsp;do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant
pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0"><I>provided</I>, <I>however</I>, that paragraphs (1)(i), (1)(ii),&nbsp;and
(1)(iii)&nbsp;above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the SEC by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to
Rule 424(b) that is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(2) that, for the purpose of determining any
liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering
thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(3) to remove from registration by means of
a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(4) that, for the purpose of determining liability
under the Securities Act to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(i) Each prospectus filed by the registrant pursuant
to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and
included in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(ii) Each prospectus required to be filed pursuant to
Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to
Rule 415(a)(1)(i), (vii), or (x)&nbsp;for the purpose of providing the information required by section 10(a) of the Securities Act of
1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is
first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As
provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed
to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus
relates, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. Provided,
however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference in the registration statement or prospectus that is part of the registration statement
will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior
to such effective date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">(5) that, for the purpose of determining liability
of the registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means
of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or
sell such securities to such purchaser:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 1in">(i) any preliminary prospectus or prospectus of
the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 1in">(ii) any free writing prospectus relating to the
offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 1in">(iii) the portion of any other free writing prospectus
relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of
an undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 1in">(iv) any other communication that is an offer
in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">(b) <FONT STYLE="background-color: white">The undersigned registrant
hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s
annual report pursuant to Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#8217;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated
by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial&nbsp;<I>bona fide</I>&nbsp;offering thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">(c) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers, and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person
of the registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer, or controlling
person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">(d) The undersigned registrant hereby undertakes to file an application
for the purpose of determining the eligibility of the trustee to act under subsection (a) of section 310 of the Trust Indenture Act (&#8220;Act&#8221;)
in accordance with the rules and regulations prescribed by the SEC under section 305(b)(2) of the Act.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Pursuant to the requirements of the Securities Act of 1933, the
registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, hereunto duly authorized, in Dublin,
California, on this 15th day of September, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt"><B>AEYE, INC.</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew Fisch</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 85%">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Matthew Fisch </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE><BR STYLE="clear: both">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_001" TITLE="Powerofattorney"></A>POWER OF ATTORNEY </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">Each person whose signature appears below constitutes
and appoints Matthew Fisch and Conor B. Tierney, or each of them individually, as his or her true and lawful attorney-in-fact and agent,
with full powers of substitution and resubstitution, for and in his or her name, place, and stead, in any and all capacities, to sign
any and all amendments (including pre-effective amendments, post-effective amendments, exhibits thereto, and other documents in connection
therewith) to this registration statement and any subsequent registration statement we may hereafter file with the Securities and Exchange
Commission pursuant to Rule&nbsp;462(b) under the Securities Act of 1933 to register additional securities in connection with this registration
statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, full power and authority to do and perform each and every act and thing requisite
and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of them individually, or his or her substitute or substitutes,
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 37%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Signature</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-right: 2in; margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in; text-align: center"><B>Title</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin: 1pt 0in 1pt 0.15in"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in; text-align: center"><B>Date</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin: 1pt 0in 1pt 0.15in"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew Fisch</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Chief Executive Officer, Board Chair and Director</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Matthew Fisch </FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">/s/ Conor B. Tierney </TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Conor B. Tierney </FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">(Principal Financial Officer and</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Principal Accounting Officer)</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">/s/ Timothy J. Dunn</TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Timothy J. Dunn</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">/s/ Luis C. Dussan</TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Luis C. Dussan</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">/s/ Prof. Dr. Bernd Gottschalk</TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Prof. Dr. Bernd Gottschalk</FONT></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">/s/ Sue E. Zeifman</TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-left: 0.15in; text-align: center"><FONT STYLE="font-size: 10pt">September 15, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt">Sue E. Zeifman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt">&nbsp;</P></TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.15in; line-height: 2pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">II-6</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
