Aehr Test Systems Reports Insider Cluster Buy
Aehr Test Systems manufactures and sells systems which are designed to reduce the cost of testing flash, dynamic random access memory and other memory devices, and to perform reliability screening or burn-in of complex logic and memory devices. The company also has sales and service offices around the U.S., Japan, Germany and Taiwan. Aehr is headquartered out of Fremont, Calif., and has a market cap of $8 million.
On March 19, Aehr announced its agreement to sell 1,158,000 of its common stock in a private placement transaction with certain directors and officers of the company and other accredited investors.
“We were able to minimize the expenses related to this private placement, resulting in higher net proceeds to the Company,” said Gayn Erickson, president and chief executive officer of Aehr Test Systems. “The additional funds will allow us more leeway in managing our working capital and our research and development program spending.”
Guru Jim Simons currently holds 47,600 shares of Aehr Test Systems.
With its shares up 28.95%, Aehr trades at $0.98.
For more information on Aehr insider trades, look at the Aehr insider trade history page.