Aspen Aerogels terminates at-the-market equity offering program effective June 20, 2023

ASPEN AEROGELS INC

Termination of Sales Agreement with Cowen and Piper effective June 20, 2023.
Company will make no sales under the ATM program during the 5-day termination period.
Since March 2022, sold 5,241,400 shares for net proceeds of $72.7 million.
No termination penalties incurred.
Company had previously disclosed the ATM program with up to $150 million in aggregate offering proceeds.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ASPEN AEROGELS INC terminated Sales Agreement dated March 16, 2022 with Cowen and Company, LLC and Piper Sandler & Co. valued at Net proceeds of $72.7 million from sales of 5,241,400 shares under the 2022 ATM Offering Program; te (effective 2023-06-20).

Action: termination
Agreement: atm program
Counterparty: Cowen and Company, LLC and Piper Sandler & Co.
Value: Net proceeds of $72.7 million from sales of 5,241,400 shares under the 2022 ATM Offering Program; te
Effective: 2023-06-20

Exact text from the filing

On June 15, 2023, Aspen Aerogels, Inc. (the “Company”), provided notice of its termination, effective June 20, 2023, of that certain Sales Agreement, dated as of March 16, 2022 (the “Sales Agreement”), by and among the Company, Cowen and Company, LLC (“Cowen”), and Piper Sandler & Co. (“Piper”).

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Source: SEC EDGAR

accession 0000950170-23-028084

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