Aspen Aerogels Announces Material Agreements and Obligations
Ticker: ASPN · Form: 8-K · Filed: Aug 19, 2024 · CIK: 1145986
| Field | Detail |
|---|---|
| Company | Aspen Aerogels Inc (ASPN) |
| Form Type | 8-K |
| Filed Date | Aug 19, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $123,937,608, $150,028,886, $125 million, $100 million, $75 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, agreement-termination
Related Tickers: AER
TL;DR
Aspen Aerogels signed new deals and terminated others, creating new financial obligations.
AI Summary
Aspen Aerogels, Inc. announced on August 19, 2024, the entry into a material definitive agreement and the termination of a material definitive agreement. The company also disclosed the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding the agreements, obligations, and financial implications were not provided in this initial filing.
Why It Matters
This filing indicates significant changes in Aspen Aerogels' contractual and financial commitments, which could impact its future operations and financial health.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements and new financial obligations, which inherently carry risk and require further investigation into their specifics.
Key Players & Entities
- Aspen Aerogels, Inc. (company) — Registrant
- August 19, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Aspen Aerogels?
The filing states that Aspen Aerogels, Inc. entered into a material definitive agreement, but the specific details of this agreement are not disclosed in this report.
What is the nature of the material definitive agreement that was terminated?
The filing indicates the termination of a material definitive agreement by Aspen Aerogels, Inc., but the specifics of the terminated agreement are not provided.
What type of financial obligation has Aspen Aerogels created?
Aspen Aerogels, Inc. has created a direct financial obligation or an obligation under an off-balance sheet arrangement, as stated in the filing, without further detail.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing by Aspen Aerogels, Inc. occurred on August 19, 2024.
Where is Aspen Aerogels, Inc. headquartered?
Aspen Aerogels, Inc.'s principal executive offices are located at 30 Forbes Road, Building B, Northborough, Massachusetts, 01532.
Filing Stats: 2,091 words · 8 min read · ~7 pages · Grade level 14.9 · Accepted 2024-08-19 17:25:00
Key Financial Figures
- $123,937,608 — ny agreed to repurchase from Wood River $123,937,608 in aggregate capitalized principal amou
- $150,028,886 — the Note, for a total purchase price of $150,028,886 in cash, which amount equals to the Red
- $125 million — ity in an aggregate principal amount of $125 million (the " Term Loan Facility ") and (ii) a
- $100 million — mount not to exceed the lesser of (A) a $100 million commitment amount and (B) the value of
- $75 million — fined therein) equal to or greater than $75 million at all times and (ii) a covenant to mai
- $45 million — ed quarterly with the first test set at $45 million commencing with the fiscal quarter ende
Filing Documents
- d887175d8k.htm (8-K) — 39KB
- d887175dex101.htm (EX-10.1) — 67KB
- d887175dex102.htm (EX-10.2) — 944KB
- d887175dex991.htm (EX-99.1) — 14KB
- g887175g82p67.jpg (GRAPHIC) — 16KB
- 0001193125-24-202897.txt ( ) — 1462KB
- aspn-20240819.xsd (EX-101.SCH) — 3KB
- aspn-20240819_lab.xml (EX-101.LAB) — 18KB
- aspn-20240819_pre.xml (EX-101.PRE) — 11KB
- d887175d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1* Note Purchase and Sale Agreement, dated as of August 19, 2024, by and between Aspen Aerogels, Inc. and Wood River Capital, LLC 10.2* Credit, Security and Guaranty Agreement, dated as of August 19, 2024, by and among Aspen Aerogels, Inc., Aspen Aerogels Rhode Island, LLC, MidCap Fund IV Trust and MidCap Financial Trust 99.1 Press Release dated August 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain exhibits and schedules have been omitted in accordance with Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally a copy of any omitted exhibit or schedule to the SEC upon its request.
SIGNATURES
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 thereunto duly authorized. Aspen Aerogels, Inc. Date: August 19, 2024 By: /s/ Ricardo C. Rodriguez Name: Ricardo C. Rodriguez Title: Chief Financial Officer and Treasurer