Aehr Test Systems Announces Pricing Of Public Offering Of Common Stock

FREMONT, Calif., April 13, 2017 (GLOBE NEWSWIRE) -- 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.

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