Aspen Aerogels (ASPN) to Offer $200M in Common Stock

Aspen Aerogels, Inc. (NYSE: ASPN) commenced a proposed underwritten public offering of $200 million of shares of its common stock. In addition, the Company expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. All of the shares of common stock to be sold in the offering are being offered by Aspen. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Our existing shareholder Wood River Capital, LLC, an affiliate of Koch Investments Group, LLC ("Koch"), and/or certain of its affiliates have indicated an interest in purchasing up to $100 million of our common stock in this offering at the public offering price. However, because indications of interest are not binding agreements or commitments to purchase, Wood River Capital, LLC and/or certain of its affiliates may determine to purchase fewer securities than they indicate an interest in purchasing or not to purchase any securities in this offering.

Aspen intends to use the net proceeds from the offering to partially fund the construction of Phase I of its second aerogel manufacturing facility in Statesboro, Georgia and for other general corporate purposes.

Cowen and Barclays are acting as joint book-running managers for the offering.

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