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): September 18, 2009
Aehr Test Systems
(Exact name of Registrant as specified in its charter)
California 000-22893 94-2424084
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification Number)
400 Kato Terrace
Fremont, California 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))
ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE
OR STANDARD; TRANSFER OF LISTING.
On September 15, 2009, the Nasdaq Stock Market ("NASDAQ") notified Aehr
Test Systems (the "Company"), that it no longer complies with Rule
5450(a)(1)(the "Minimum Bid Price Rule"), as the bid price of the Company's
shares closed below the minimum $1.00 per share for the 30 consecutive business
days prior to the date of the letter. In accordance with Rule 5810(c)(3)(A)
(the "Grace Period Rule"), the Company will be provided 180 calendar days, or
until March 15, 2010, to regain compliance with the Minimum Bid Price Rule.
The Company may regain compliance with the Minimum Bid Price Rule if the bid
price of the Common Stock closes at $1.00 per share or more for a minimum of
10 consecutive business days at anytime before March 15, 2010.
If compliance with the Minimum Bid Price Rule cannot be demonstrated
by March 15, 2010 and, except for the bid price requirement, the Company meets
The Nasdaq Capital Market initial listing criteria set forth in Marketplace
Rule 5505, then the Company will receive an additional 180 calendar day
compliance period in which to demonstrate compliance with the Minimum Bid Price
Rule. If the Company does not regain compliance with the Minimum Bid Price
Rule prior to March 15, 2010 and is not eligible for the additional compliance
period, then NASDAQ will notify the Company that the Common Stock will be
delisted. At that time, the Company may appeal NASDAQ's determination to
delist the Common Stock.
A copy of the press release issued by the Company with respect to this
matter is attached hereto as Exhibit 99.1 of this Current Report.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit No. Description
----------- -----------
99.1 Press Release of Aehr Test Systems dated
September 18, 2009 entitled "Aehr Test Systems
Receives Nasdaq Notification Related To Minimum
Bid Price Rule."
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: September 18, 2009
By: /S/ GARY L. LARSON
-------------------------
Gary L. Larson
Vice President of Finance and
Chief Financial Officer