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Aehr Test Systems Announces Completion of $25 Million ATM Offering
FREMONT, Calif., Oct. 07, 2021 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification
About this update from Aehr Test Systems
[{"type":"text","content":"FREMONT, Calif., Oct. 07, 2021 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced that it successfully completed its previously announced $25 million “at-the-market” (“ATM”) offering. A total of 1.7 million shares were sold at an average sales price of $14.73 per share. The gross proceeds to the Company were $25.0 million before commission fees and offering expenses. The estimated net proceeds to the Company after commission, fees, and estimated offering expenses were $24.0 million. Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We are pleased to have successfully completed this offering which netted $24 million in cash with minimum dilution to our shareholders. These proceeds provide additional capital to serve the very large market opportunities we see ahead, which include the significant opportunity for test and burn-in of silicon carbide devices for electric vehicles and electrification infrastructure, silicon photonics devices for data center and 5G infrastructure, and 2D/3D sensors for mobile and wearable devices. “We are seeing a significant increase in demand for wafer level test and burn-in of silicon carbide semiconductors for electric vehicles. In addition to a very strong backlog and forecast from our lead silicon carbide customer, we are currently engaged in evaluations and/or benchmarks with multiple other major silicon carbide suppliers regarding their wafer level test and burn-in needs. “Aehr Test’s unique solutions allow our customers to test and burn-in their devices with 100% confidence and traceability, which are needed to address the reliability, safety, security, and confidence for mission critical applications such as semiconductors used in motor controllers and power conversion in electric vehicles. We feel we are very well positioned to capitalize on the long-term growth opportunities such as these silicon carbide devices within the electric vehicle as well as the infrastructure to support the electric vehicle market.” About Aehr Test SystemsHeadquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic, optical and memory integrated circuits and has installed over 2,500 systems worldwide. Increased quality and reliabi...