Aspen Aerogels, Inc. Announces Pricing of Public Offering of Common Stock
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spen Aerogels, Inc. (NYSE: ASPN) (Aspen) today announced the pricing of an underwritten public offering of 1,700,000 shares of its common stock, at a purchase price to the public of USD 8.25 per share.
In addition, in connection with the offering, Aspen has granted the underwriter a 30-day option to purchase up to an additional 255,000 shares of common stock solely to cover over-allotments, if any. The gross proceeds to Aspen from this offering are expected to be approximately $14.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aspen, but excluding any exercise of the underwriter's option to purchase additional shares of common stock. The offering is expected to close on or about February 18, 2020, subject to customary closing conditions.
All of the securities in the offering are being sold by Aspen. Aspen intends to use the net proceeds from the offering for working capital and general corporate purposes.
Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering.
A shelf registration statement on Form S-3 (File No. 333-227158) relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the SEC) and declared effective by the SEC on September 18, 2018. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering were filed with the SEC on February 12, 2020. A final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and made available on the SEC's web site at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn Equity Capital Markets, by telephone at (612) 334-6300 or by e-mail at prospectus@chlm.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
✔️ Aspen Aerogels, Inc. Announces Pricing of Public Offering of Common Stock
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