**Aspen Aerogels Inc. Enters Underwriting Agreement with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC for Offering of Common Stock**

On October 21, 2024, Aspen Aerogels, Inc. (the “Company”) finalized an underwriting agreement with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC (collectively, the “Underwriters”), involving the issuance and sale of 4,250,000 shares of the Company’s common stock at $20.00 per share in an Offering. The Company further granted the Underwriters a 30-day option to acquire up to an additional 637,500 shares of common stock. The gross proceeds from the Offering are anticipated to reach $85 million before deducting underwriting discounts, commissions, and estimated offering expenses, excluding any potential acquisition of additional shares.

The net proceeds generated from this Offering are earmarked for general corporate purposes alongside working capital and capital expenditure for the Company. The transaction’s specifics include standard representations, warranties, closing conditions, indemnification responsibilities, and termination provisions. Aided by the Company’s shelf registration statement on Form S-3 (File No. 333-282751) filed with the Securities and Exchange Commission on October 21, 2024, the Offering was enabled, supplemented by a related prospectus and prospectus supplement.

The closing of the Offering is anticipated to happen on October 23, 2024, subject to the completion of routine closing conditions. The underwriting agreement has been filed as Exhibit 1.1 to the Current Report on Form 8-K, with further details provided in the agreement itself. Additionally, the legal opinion on the issuance and sale of shares from Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is attached as Exhibit 5.1 alongside this current report.

Simultaneously, on October 21, 2024, the Company issued a press release disclosing the Offering’s pricing. This press release is accessible as Exhibit 99.1 and is hereby incorporated into this report. It’s important to note that this current report doesn’t constitute an offer to sell or a solicitation to buy mentioned securities unless registered or qualified under the securities laws of the jurisdiction.

These financial moves were revealed in a Form 8-K filing with the Securities and Exchange Commission, serving to inform Aspen Aerogels’ investors and the market about the recent developments.

Aspen Aerogels, Inc. remains devoted to transparency and compliance, as indicated by these recent financial transactions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aspen Aerogels’s 8K filing here.

About Aspen Aerogels

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.