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Aspen Aerogels prices IPO of 7.5mn shares at $11/share
13
Jun '14
Aspen Aerogels, Inc. announced that it has priced its initial public offering of 7,500,000 shares of common stock at $11.00 per share for total gross proceeds of $82,500,000. In addition, Aspen Aerogels has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price less the underwriting discount. Aspen Aerogels' shares are expected to begin trading on the New York Stock Exchange on June 13, 2014, under the symbol "ASPN." 
 
Aspen Aerogels intends to use the net proceeds from this offering to fund additional expenditure for its third production line at its facility in East Providence, R.I., for repayment of amounts outstanding under its revolving line of credit and subordinated notes, and for general corporate purposes, which will include funding a portion of the design, development and construction of its planned second production plant in Europe or Asia after completion of its third production line at its facility in East Providence, R.I.
 
Barclays, J.P. Morgan, and Citigroup are acting as joint book-running managers of the offering. Baird and Canaccord Genuity are acting as co-managers of the offering.
 
Aspen Aerogels is an energy technology company that designs, develops and manufactures innovative, high-performance aerogel insulation used primarily in large-scale energy infrastructure facilities. Headquartered in Northborough, Mass., Aspen Aerogels manufactures its Cryogel, Pyrogel and Spaceloft products at its facility in East Providence, R.I.
 

Aspen Aerogels


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