Aehr Test Systems (NASDAQ: AEHR) is having an overwhelmingly strong start to the trading session this morning after announcing the pricing of a public offering. Investors liked the price, sending the stock upward and prompting our partners at Trade Ideas to alert us of the movement. At the moment (8:44), AEHR is trading at $4.30 per share after a gain of $0.26 per share or 6.44% thus far today.
AEHR Prices Secondary Public Offering
As mentioned above, AEHR Test Systems is having an overwhelmingly strong day in the market today after announcing the pricing of a previously approved public offering. The company intends to offer 3,846,154 shares of common stock for sale to the public at a price of $3.90 per share. The company has also granted the underwriter a 30-day option to purchase an additional 576,923 shares of common stock at the offering price to cover over-allotments. It is expected that the offering will close on April 19th, but it is subject to customary closing conditions.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AEHR. In particular, we’re interested to see how quickly this offering is filled as well as watching the company through the use of that money toward growth. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
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