Item 1.01. Entry into a Material Definitive Agreement.

On January 10, 2023, Aehr Test Systems (the "Company") entered into the Third Amendment to Loan and Security Agreement (the "Amendment") with Silicon Valley Bank (the "Lender") which amended the Loan and Security Agreement dated as of January 13, 2020, the First Amendment to Loan and Security Agreement dated as of January 14, 2021, and the Second Amendment to Loan and Security Agreement dated as of January 11, 2022 with the Lender.

The Amendment, among other things, extended the Revolving Line Maturity Date to January 13, 2024, provided, however, that (i) if by no later than July 31, 2023 the Company submits a fiscal year 2024 plan of record to that is generally acceptable to the Lender, and (ii) the minimum net cash at the end of November 30, 2023 is at least $20.0 million, the Amended Revolving Line Maturity Date would be extended to January 13, 2025.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information disclosed in Item 1.01 above is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.



Exhibit No.   Description
   10.1         Third Amendment to Loan and Security Agreement dated January 10,
              2023 by and between Aehr Test Systems and Silicon Valley Bank.





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