Aspen Aerogels announces its decision not to proceed with concurrent public offerings of common stock and green convertible senior notes due 2027.
Aspen Aerogels, Inc. (NYSE: ASPN) (“Aspen” or the “Company”), a technology leader in sustainability and electrification solutions, announced that it has decided not to proceed with the concurrent public offerings of its common stock and its green convertible senior notes due 2027 (the “Notes”) previously announced.
The decision not to proceed with the concurrent offerings results from an assessment by the Company that current market conditions are not conducive for the offerings on terms that would be in the best interests of Aspen’s shareholders.
As a result of this decision, no shares of common stock or Notes will be sold pursuant to the concurrent offerings.
The offerings were being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”) and only by means of a preliminary prospectus supplement and an accompanying prospectus for each offering, which were filed by Aspen with the SEC on June 29, 2022.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Aspen Aerogels, Inc.
Aspen is a technology leader in sustainability. The company’s aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, e-mobility and clean energy.
Aspen’s PyroThin® products enable solutions to thermal runaway challenges within the electric vehicle market. The company’s carbon aerogel program seeks to increase the performance of lithium-ion battery cells to enable EV manufacturers to extend the driving range and reduce the cost of electric vehicles.
Aspen’s Spaceloft® products provide building owners with industry-leading energy efficiency and fire safety. The company’s Cryogel® and Pyrogel® products are valued by the world’s largest energy infrastructure companies. Aspen’s strategy is to partner with world-class industry leaders to leverage its Aerogel Technology Platform™ into additional high-value markets.
Headquartered in Northborough, Mass., Aspen manufactures its products at its East Providence, R.I. facilities.
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Aspen Aerogels, Inc. Announces its Decision Not to Proceed with Concurrent Public Offerings of Common Stock and Green Convertible Senior Notes due 2027, NORTHBOROUGH, Mass., June 29, 2022
