Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Feb. 27, 2:37 PM
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Slide #17. Aspen Aerogels, Inc. — Secondary Offering
Aspen Aerogels, Inc. (NYSE:ASPN)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen") today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The proposed offering is subject to market 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. Aspen also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering solely to cover over-allotments, if any. All of the securities in the proposed offering are to be sold by Aspen. -updated 2/12- Aspen 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 $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.
Aspen Aerogels is an aerogel technology company that designs, develops and manufactures aerogel insulation used primarily in the energy infrastructure and building materials markets. Co. also conducts research and development related to aerogel technology. Co.'s product lines include: Pyrogel XT-E, which is designed for use in refineries and petrochemical facilities; Pyrogel XTF, which is designed to provide protection against fire; Cryogel Z, which is designed for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea, which is designed for use in pipe-in-pipe applications in offshore oil production.
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