AEye and CF Finance Acquisition Corp. III Announce Closing of Business Combination; AEye to Trade on Nasdaq as “LIDR” Beginning on August 18

AEye, Inc. (“AEye”), the global leader in adaptive, high-performance LiDAR
solutions, announced  the completion of its business combination (the
“Business Combination”) with CF Finance Acquisition Corp. III (Nasdaq: CFAC)
(“CF III”), a special purpose acquisition company sponsored by Cantor
Fitzgerald. The combined company will retain the AEye, Inc. name and is
expected to commence trading on Nasdaq under the ticker symbol “LIDR” on
August 18, 2021. The Business Combination was approved at a special meeting
of CF III stockholders on August 12, 2021.

“AEye’s transition to the public markets marks a key milestone in our
corporate journey, enabling us to accelerate adoption of our
high-performance, intelligent LiDAR system and accelerate our mission to
bring safe autonomy to the masses,” said Blair LaCorte, CEO of AEye. “AEye
is experiencing strong business momentum based on its partnership with
Continental, one of the world’s largest automotive suppliers, as well as
recently announced strategic partnerships with industry leaders such as
Sanmina, NVIDIA, TuSimple, and others. We look forward to creating value for
our shareholders as we continue to address near and long-term opportunities
unfolding in autonomous transportation.”

AEye is well positioned for commercial success in the large, fast-growing
LiDAR market due to its adaptive LiDAR technology; a capital-light business
model designed to leverage the industry’s existing value chain to deliver
high-margins; and marquee customers and partnerships that should enable
global automotive-grade production at scale. AEye’s iDART system has been
independently verified to have significant range, resolution, and speed
performance advantages, and is software-configurable to serve multiple
markets, including automotive, industrial, and mobility, with the same
platform and supply chain.

About AEye

AEye is the premier provider of intelligent, next generation, adaptive LiDAR
for vehicle autonomy, advanced driver-assistance systems (ADAS), and robotic
vision applications. AEye’s iDART (Intelligent Detection and Ranging) system
leverages biomimicry and principles from automated targeting applications
used by the military to scan the environment, intelligently focusing on what
matters most, enabling faster, more accurate, and more reliable perception.
iDAR is the only software configurable LiDAR with integrated deterministic
artificial intelligence, delivering industry-leading performance in range,
resolution, and speed. The company was founded in 2013 and is based in the
San Francisco Bay Area.

About Cantor Fitzgerald

CF III was sponsored by Cantor Fitzgerald. Cantor Fitzgerald, with over
12,000 employees, is a leading global financial services group at the
forefront of financial and technological innovation and has been a proven
and resilient leader for over 70 years. Cantor Fitzgerald & Co. is a
preeminent investment bank serving more than 5,000 institutional clients
around the world, recognized for its strengths in fixed income and equity
capital markets, investment banking, prime brokerage, and commercial real
estate and for its global distribution platform. Cantor Fitzgerald & Co. is
one of the 24 primary dealers authorized to transact business with the
Federal Reserve Bank of New York. Cantor Fitzgerald is a leading SPAC
sponsor, having completed multiple initial public offerings and announced
multiple business combinations through its CF Acquisition platform. For more
information, please visit: www.cantor.com.