Aehr Test Systems (AEHR) Registration Filing summary

Company overview and business model

• Develops and manufactures burn-in and test equipment for the semiconductor industry, serving a critical role in chip reliability and quality assurance.

• Incorporated in California since 1977, with principal offices in Fremont, CA.

Financial performance and metrics

• As of August 30, 2024, 29,583,732 shares of common stock were outstanding, with $75.6 million in net tangible book value ($2.56 per share).

• After the offering, as adjusted net tangible book value would be $114.1 million, or $3.56 per share, assuming full sale at $16.02 per share.

• Immediate dilution to new investors is estimated at $12.46 per share.

Use of proceeds and capital allocation

• Net proceeds will be used for general corporate purposes, including working capital, inventory, R&D, commercial activities, and capital expenditures.

• Management has broad discretion over the use of proceeds, which may not directly enhance operating results.