CF Finance Acquisition Corp. III Announces Agreement with AEye, Inc. for Funding

CF Finance Acquisition Corp. III (OTCMKTS:CFACU) submitted a Form 8-K to the United States Securities and Exchange Commission on January 3, 2025, informing shareholders of an agreement with AEye, Inc. The agreement involves a Securities Purchase Agreement to provide funding of up to $3,240,000 with an institutional investor.

As part of the agreement, AEye is set to issue a senior unsecured convertible promissory note worth $3,240,000 and a warrant to purchase up to 805,263 shares of the company’s common stock at a price of $2.22 per share. The note has a term of eighteen months, accruing interest at a rate of 7.0% annually, and offers conversion to common stock at the aforementioned price, subject to adjustments outlined in the agreement.

The company has also agreed to register the resale of shares of common stock issuable upon conversion of the note and the warrant under the Securities Act of 1933. Additionally, the note contains customary covenants, events of default, and triggering events. The agreement includes representations, warranties, conditions, and indemnification obligations.

The securities issuance in this transaction is exempt from registration under the Securities Act and is in compliance with Section 4(a)(2) and Rule 506(b) of Regulation D. The Purchase Agreement, Registration Rights Agreement, Note, and Warrant details are furnished in the Form 8-K for further reference.

This document does not serve as an offer to sell or a solicitation to buy any Note, Warrant, or shares of Common Stock in any jurisdiction where such actions are unlawful without proper registration. Interested parties are advised to seek updated information by referring to the complete agreements outlined in the filing.

As of the report submission, the transaction details and financial obligations have been duly filed with the Securities Exchange Act of 1934. Further updates on this agreement will be communicated to shareholders as necessary.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CF Finance Acquisition Corp. III’s 8K filing here.

CF Finance Acquisition Corp. III Company Profile

CF Finance Acquisition Corp. III does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2016 and is based in New York, New York.