UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported)
 
July 8, 2021
 

AEHR TEST SYSTEMS
(Exact name of registrant as specified in its charter)
 
California
 
000-22893
 
94-2424084
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)
 
400 KATO TERRACE, FREMONT, CA 94539
(Address of principal executive offices, including zip code)
 
510-623-9400
(Registrant’s telephone number, including area code)
 
 N/A
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.01 per share
AEHR
The NASDAQ Capital Market
 

 
 
 
Item 1.01. Entry into a Material Definitive Agreement.
 
On January 14, 2021, Aehr Test Systems (the “Company”) entered into the First Amendment to Loan and Security Agreement (the "Amendment") with Silicon Valley Bank (the "Lender") which amended the Loan and Security Agreement (the “Loan Agreement”) dated as of January 13, 2020 with the Lender.
 
The Amendment, among other things, extends the Revolving Line Maturity Date (as defined in the Loan Agreement) to July 14, 2021 (the “Amended Revolving Line Maturity Date”); provided, however, that if the Company achieves specified operating metrics on a consolidated basis on or prior to May 31, 2021 the Amended Revolving Line Maturity Date is extended to January 13, 2022.
 
On July 8, 2021 the Company received confirmation from the Lender that the Revolving Line Maturity Date has been extended to January 13, 2022.
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Aehr Test Systems
(Registrant)
 
 
 
 
 
Date: July 9, 2021
By:  
/s/ Kenneth B. Spink
 
 
 
Kenneth B. Spink
 
 
 
Vice President of Finance and
Chief Financial Officer 
 
 

 
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