Aehr Test Systems

06/14/2021 | Press release | Distributed by Public on 06/14/2021 12:56

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(Former name or former address, if changed since last report)
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Common Stock, par value $0.01 per share
The NASDAQ Capital Market

Item 1.02. Termination of a Material Definitive Agreement.
As previously reported in the Current Report on Form 8-K dated April 28, 2020 by Aehr Test Systems (the 'Company'), on April 23, 2020, the Company obtained an unsecured loan in the aggregate amount of $1,678,789 (the 'Loan') from Silicon Valley Bank (the 'Lender') pursuant to the Paycheck Protection Program established under the Coronavirus Aid, Relief, and Economic Security Act (the 'CARES Act') and guaranteed by the U.S. Small Business Administration (the 'SBA').
On June 12, 2021, the Company received confirmation from the Lender that on June 4, 2021 the SBA approved the Company's PPP Loan forgiveness application for the entire PPP Loan balance of $1,678,789 and interest totaling $18,933.01, and that the remaining PPP Loan balance is zero.