Up to $60,000,000

COMMON STOCK

We have entered into an Equity Distribution Agreement, or Sales Agreement, with William Blair & Company, L.L.C., or William Blair, and Craig-Hallum Capital Group LLC, or Craig-Hallum, dated April 8, 2026, relating to the sale of shares of our common stock offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the Sales Agreement, under this prospectus supplement and the accompanying prospectus, we may offer and sell shares of our common stock having an aggregate offering price of up to $60,000,000 from time to time through William Blair and Craig-Hallum, each an agent and, collectively, agents.

Our common stock is listed on the Nasdaq Capital Market under the symbol "AEHR". On April 6, 2026, the last reported sale price of our common stock on the Nasdaq Capital Market was $52.16 per share.

Sales of our common stock, if any, under this prospectus supplement and the accompanying prospectus will be made in sales deemed to be an "at the market" equity offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, or the Securities Act. William Blair and Craig-Hallum are not required to sell any specific amount of securities, but will act as sales agents on a best efforts basis and use commercially reasonable efforts consistent with their normal trading and sales practices, on mutually agreed terms between William Blair, Craig-Hallum and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

William Blair and Craig-Hallum will be entitled to compensation at a commission rate of  up to 3.00% of the aggregate gross proceeds of any shares of common stock sold under the Sales Agreement. In connection with the sale of shares of our common stock on our behalf, William Blair and Craig-Hallum will be deemed to be "underwriters" within the meaning of the Securities Act and the compensation of William Blair and Craig-Hallum will be deemed to be underwriting commissions or discounts.