Aehr Test Systems Announces Completion of $25 Million ATM Offering
October 07 2021 - 7:30AM
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 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 ABTS™ and
FOX-P™ families of test and burn-in systems and FOX WaferPak™
Aligner, FOX-XP WaferPak Contactor, FOX DiePak® Carrier and
FOX DiePak Loader. The ABTS system is used in production and
qualification testing of packaged parts for both lower power and
higher power logic devices as well as all common types of memory
devices. The FOX-XP and FOX-NP systems are full wafer contact and
singulated die/module test and burn-in systems 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 FOX-CP
system is a new low-cost single-wafer compact test and reliability
verification solution for logic, memory and photonic devices and
the newest addition to the FOX-P product family. 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 Systems’ website at www.aehr.com.
Safe Harbor StatementThis press release
contains certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements
generally relate to future events or Aehr’s future financial or
operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
"may," "will," "should," "expects," "plans," "anticipates,” “going
to,” "could," "intends," "target," "projects," "contemplates,"
"believes," "estimates," "predicts," "potential," or "continue," or
the negative of these words or other similar terms or expressions
that concern Aehr’s expectations, strategy, priorities, plans, or
intentions. Forward-looking statements in this press release
include, but are not limited to, future requirements and orders of
Aehr’s new and existing customers; bookings forecasted for
proprietary WaferPak™ and DiePak consumables; and expectations
related to long-term demand for Aehr’s productions and the
attractiveness of key markets. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in Aehr’s
recent Form 10-K, 10-Q and other reports filed from time to time
with the Securities and Exchange Commission. Aehr 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 |
|
MKR
Investor Relations Inc. |
Ken
Spink |
|
Todd Kehrli
or Jim Byers |
Chief
Financial Officer |
|
Analyst/Investor Contact |
(510)
623-9400 x309 |
|
(323) 468-2300 |
|
|
aehr@mkr-group.com |
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