Item 2.01 Completion of Acquisition or Disposition of Assets. On July 31, 2024, Aehr Test Systems, a California corporation (the “ Company”), completed its acquisition of Incal Technology, Inc., a California corporation based in Fremont, California (“ Incal”) pursuant to the Stock Purchase Agreement (the “ Purchase Agreement”), as previously reported under Item 1.01 of the Current Report on Form 8-K filed on July 15, 2024. Pursuant to the Purchase Agreement, the Company acquired all of the outstanding capital stock of Incal for an aggregate purchase price of $21.0 million, consisting of $14.0 million in cash and the issuance of $7.0 million in shares of the Company’s common stock (comprised of 552,355 shares of the Company’s common stock at $12.673 per share), subject to certain post-closing adjustments with respect to working capital, as further described in the Purchase Agreement. 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 Date: July 31, 2024 By: /s/ Chris P. Siu Chris P. Siu Executive Vice President of Finance and Chief Financial Officer and Secretary