Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AEHR TEST SYSTEMS amended credit facility with Silicon Valley Bank maturing Revolving Line Maturity Date extended to January 13, 2024.
- Instrument
- credit facility
- Counterparty
- Silicon Valley Bank
- Maturity
- Revolving Line Maturity Date extended to January 13, 2024
- Event
- amendment
Exact text from the filing
On January 10, 2023, Aehr Test Systems (the “Company”) entered into the Third Amendment to Loan and Security Agreement (the “Amendment”) with Silicon Valley Bank (the “Lender”) which amended the Loan and Security Agreement dated as of January 13, 2020, the First Amendment to Loan and Security Agreement dated as of January 14, 2021, and the Second Amendment to Loan and Security Agreement dated as of January 11, 2022 with the Lender.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
AEHR TEST SYSTEMS amended Third Amendment to Loan and Security Agreement with Silicon Valley Bank valued at Extended the Revolving Line Maturity Date to January 13, 2024, with possible further extension to Ja (effective 2023-01-10).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Silicon Valley Bank
- Value
- Extended the Revolving Line Maturity Date to January 13, 2024, with possible further extension to Ja
- Effective
- 2023-01-10
Exact text from the filing
Item 1.01. Entry into a Material Definitive Agreement. On January 10, 2023, Aehr Test Systems (the “Company”) entered into the Third Amendment to Loan and Security Agreement (the “Amendment”) with Silicon Valley Bank (the “Lender”) which amended the Loan and Security Agreement dated as of January 13, 2020, the First Amendment to Loan and Security Agreement dated as of January 14, 2021, and the Second Amendment to Loan and Security Agreement dated as of January 11, 2022 with the Lender. The Amendment, among other things, extended the Revolving Line Maturity Date to January 13, 2024, provided, however, that (i) if by no later than July 31, 2023 the Company submits a fiscal year 2024 plan of record to that is generally acceptable to the Lender, and (ii) the minimum net cash at the end of November 30, 2023 is at least $20.0 million, the Amended Revolving Line Maturity Date would be extended to January 13, 2025. The foregoing description of the Amendment does not purport to be complete and
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