Aehr Test Systems Climbs 14% After Concluding $25 Mln Share Offering

(RTTNews) - Shares of Aehr Test Systems (AEHR) are up more than 14% in the morning trade on Friday at $19.12.

Thursday, the semi conductor equipment maker said it closed its previously announced $25 million "at-the-market" offering by selling 1.7 million shares at an average price of $14.73 per share.

The company received net proceeds of $24 million from the offering.

"These proceeds provide additional capital to serve the very large market opportunities we see ahead, which include the significant opportunity for test and burn-in of silicon carbide devices for electric vehicles and electrification infrastructure, silicon photonics devices for data center and 5G infrastructure, and 2D/3D sensors for mobile and wearable devices," said Gayn Erickson, President and CEO of Aehr Test Systems.

AEHR touched a new high of $19.36 this morning.