Aehr Test Systems Announces Pricing of Public Offering of Common Stock
April 13 2017 - 7:00AM
Aehr Test Systems (Nasdaq:AEHR), a worldwide
supplier of semiconductor test and burn-in equipment, today
announced the pricing of its previously announced underwritten
public offering of 3,846,154 shares of its common stock at a price
to the public of $3.90 per share. In addition, Aehr Test Systems
has granted the underwriter a 30-day option to purchase at the
public offering price up to an additional 576,923 shares of its
common stock to cover over-allotments, if any. All shares of common
stock to be sold in the offering will be offered by Aehr Test
Systems. The offering is expected to close on April 19, 2017,
subject to the satisfaction of customary closing conditions.
The total gross proceeds from the offering are expected to be
approximately $15 million, assuming no exercise of the
underwriter’s over-allotment option. Aehr Test Systems intends to
use the net proceeds from the offering (after deducting the
underwriting discount and other estimated offering expenses payable
by Aehr Test Systems) for general corporate purposes, which may
include working capital, capital expenditures, other corporate
expenses and acquisitions of complementary products, technologies
or businesses, although no specific acquisitions are currently
contemplated.
Craig-Hallum Capital Group LLC is acting as the sole managing
underwriter of the offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3 (File No. 333-216792) that was previously
filed with the Securities and Exchange Commission (SEC) on March
17, 2017 and became effective on March 24, 2017. A preliminary
prospectus supplement and accompanying base prospectus relating to
the offering were filed with the SEC on April 10, 2017. A
final prospectus supplement and accompanying base prospectus
relating to and describing the final terms of the offering will be
filed with the SEC and may (when available) be obtained by visiting
the SEC’s website at www.sec.gov or by contacting Craig-Hallum
Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis,
Minnesota 55402, by telephone at 612-334-6300 or by email at
prospectus@chlm.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of such
state or jurisdiction. Any offer, if at all, will be made only by
means of the prospectus supplement and accompanying prospectus
forming a part of the effective registration statement.
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 an
installed base of more than 2,500 systems worldwide. Increased
quality and reliability needs of the Automotive and Mobility
integrated circuit markets are driving additional test
requirements, incremental capacity needs, and new opportunities for
Aehr Test products in package, wafer level, and singulated
die/module level test. Aehr Test has developed and introduced
several innovative products, including the ABTSTM and FOX-P
families of test and burn-in systems and FOX WaferPak Aligner,
FOX-XP WaferPak Contactor, and FOX DiePak® Carrier. The ABTS system
is used in production and qualification testing of packaged parts
for lower power and higher power logic devices as well as all
common types of memory devices. The FOX-XP system is a full wafer
contact and singulated die/module test and burn-in system used for
burn-in and functional test of complex devices, such as
leading-edge memories, digital signal processors, microprocessors,
microcontrollers, systems-on-a-chip, and integrated optical
devices. The WaferPak contactor contains a unique full wafer probe
card capable of testing wafers up to 300mm that enables IC
manufacturers to perform test and burn-in of full wafers on Aehr
Test FOX systems. The DiePak Carrier is a reusable, temporary
package that enables IC manufacturers to perform cost-effective
final test and burn-in of both bare die and modules. For more
information, please visit Aehr Test System’s website at
www.aehr.com.
Safe Harbor StatementThis press
release contains certain forward-looking statements based on
current expectations, forecasts and assumptions that involve risks
and uncertainties. These statements are based on information
available to Aehr Test as of the date hereof and actual results
could differ materially from those stated or implied due to risks
and uncertainties. Forward-looking statements include statements
regarding Aehr Test’s intention to offer and sell 3,846,154 shares
of its common stock. These risks and uncertainties include, without
limitation, general market conditions and the risks and
uncertainties detailed in Aehr Test’s recent 10-K, 10-Q and other
reports filed from time to time with the Securities and Exchange
Commission. Aehr Test disclaims any obligation to update
information contained in any forward-looking statement to reflect
events or circumstances occurring after the date of this press
release.
Contacts:
Aehr Test Systems
Ken Spink
Chief Financial Officer
(510) 623-9400 x309
kspink@aehr.com
MKR Group Inc.
Todd Kehrli or Jim Byers
Analyst/Investor Contact
(323) 468-2300
aehr@mkr-group.com
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