Aehr Test Systems launches up to $25M ATM stock offering; prior agreement terminated

AEHR TEST SYSTEMS

Entered equity distribution agreement with William Blair and Craig-Hallum for up to $25M of common stock via ATM offering.
Prior equity distribution agreement with Craig-Hallum dated Sept 17, 2021 terminated by mutual agreement on Feb 6, 2023.
Agents receive 2.75% commission on gross proceeds; shares sold on Nasdaq open market.
Net proceeds to be used for general corporate purposes, including working capital, R&D, and capex.

item 1.01 item 1.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AEHR TEST SYSTEMS terminated Equity Distribution Agreement with Craig-Hallum Capital Group LLC (effective 2023-02-06).

Action: termination
Agreement: atm program
Counterparty: Craig-Hallum Capital Group LLC
Effective: 2023-02-06

Exact text from the filing

On February 6, 2023, the Company terminated the Equity Distribution Agreement with Craig-Hallum Capital Group LLC, dated as of September 17, 2021, by mutual agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AEHR TEST SYSTEMS entered into Sales Agreement with William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC valued at $25,000,000 (effective 2023-02-07).

Action: entry
Agreement: atm program
Counterparty: William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC
Value: $25,000,000
Effective: 2023-02-07

Exact text from the filing

On February 7, 2023, AEHR Test Systems (the “Company”) entered into an equity distribution agreement (the “Sales Agreement”) with William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC (the “Agents”), in connection with the offer and sale of up to $25,000,000 of shares of the Company’s common stock

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AEHR TEST SYSTEMS filing history →

Source: SEC EDGAR

accession 0001654954-23-001446

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