Filing Details

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. __ )*

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[ ]            Rule 13d-1(b)

[x]            Rule 13d-1(c)

[ ]            Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Aehr Test Systems (“Issuer”)

400 Kato Terrace

Fremont, California 94539

The names of the persons filing this statement on Schedule 13G are (collectively, the “Reporting Persons”):

•	Collaborative Holdings Master Fund LP, a Cayman Islands exempted limited partnership (the “Master Fund”);

•	Collaborative Holdings Fund GP LLC, a Delaware limited liability company (“Collaborative Fund GP”)

•	Collaborative Holdings Management LP, a Delaware limited partnership (“Collaborative Management”);

•	Collaborative Holdings GP LLC, a Delaware limited liability company (“IM GP”); and

•	Sheetal Sharma, a United States citizen (“Mr. Sharma”);

The principal business address of each of Collaborative Fund GP, Collaborative Management, IM GP, and Mr. Sharma is 347 Bowery, 2^nd Floor, New York, New York 10003.

The principal business address of the Master Fund is c/o Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, Grand Cayman, Cayman Islands, KY1-9008.

Mr. Sharma is a citizen of the United States.

The Master Fund is an exempted limited partnership formed under the laws of the Cayman Islands.

Collaborative Fund GP is a limited liability company formed under the laws of the State of Delaware.

Collaborative Management is a limited partnership formed under the laws of the State of Delaware.

IM GP is a limited liability company formed under the laws of the State of Delaware.

Common stock, par value $0.01 per share (“Common Stock”)

00760J108

As of the close of business on September 28, 2021,

(i)	The Master Fund owned 1,225,594 shares of Common Stock;

(ii)	Collaborative Fund GP, as the general partner of the Master Fund, may be deemed to beneficially own the 1,225,594 shares of Common Stock owned by the Master Fund;

(iii)

Collaborative Management, as the investment manager of the Master Fund, may be deemed to beneficially own the 1,225,594 shares of Common Stock owned by the Master Fund;

(iv)	IM GP, as the general partner of Collaborative Management, may be deemed to beneficially own the 1,225,594 shares of Common Stock owned Collaborative Management; and

(v)	Mr. Sharma, as the Managing Member of each of Collaborative Fund GP and IM GP, may be deemed to beneficially own the 1,225,594 shares of Common Stock owned by Collaborative Fund GP and IM GP.

The percentage of Common Stock reported owned by each person named herein is based upon 24,482,796 shares of Common Stock outstanding as of September 3, 2021, as reported in the Issuer’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on September 24, 2021. As of the close of business on September 28, 2021, each of the Reporting Persons may be deemed to beneficially own 5.01% of the outstanding shares of Common Stock.

See Cover Pages Items 5-8.

See Cover Pages Items 5-8.

See Cover Pages Items 5-8.

See Cover Pages Items 5-8.

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following [  ].

Not applicable.

Not applicable.

Not applicable.

Not applicable.

By signing below each of the undersigned certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct.

Dated: October 5, 2021

*The Reporting Persons disclaim beneficial ownership in the shares of Common Stock reported herein except to the extent of their pecuniary interest therein.

EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Stock, par value $0.01 per share, of Aehr Test Systems dated October 5, 2021 and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated:  October 5, 2021

COLLABORATIVE HOLDINGS MASTER FUND LP
By: Collaborative Holdings Fund GP LLC, its general partner
	By:	/s/ Sheetal Sharma
		Sheetal Sharma, Managing Member of Collaborative Holdings Fund GP LLC

COLLABORATIVE HOLDINGS MANAGEMENT LP
By: Collaborative Holdings GP LLC, its general partner
	By:	/s/ Sheetal Sharma
		Sheetal Sharma, Managing Member of Collaborative Holdings Fund GP LLC

COLLABORATIVE HOLDINGS FUND GP LLC
By:	/s/ Sheetal Sharma
	Sheetal Sharma, Managing Member

COLLABORATIVE HOLDINGS GP LLC
By:	/s/ Sheetal Sharma
	Sheetal Sharma, Managing Member

/s/ Sheetal Sharma

SHEETAL SHARMA