Aspen Aerogels amends $500M+ GM loan; extends draw period, maturity, adds covenants

On September 28, 2023 (the “ First Amendment Effective Date ”), Aspen Aerogels Georgia, LLC, a Georgia limited liability company (the “ Borrower ”), a wholly-owned subsidiary of Aspen Aerogels, Inc., a Delaware corporation (the “ Company ”), entered into a first amendment (the “ First Amendment ”) to amend that certain loan agreement, dated as of November 28, 2022 (the “ Loan Agreement ”), by and among (i) the Borrower, (ii) the Company, as a guarantor and (iii) Aspen Aerogels Rhode Island, LLC, a Rhode Island limited liability company (“ Aspen RI ” and, together with the Borrower and the Company, each, a “ Loan Party ” and collectively, the “ Loan Parties ”), as a guarantor, and (iv) General Motors Holdings LLC (“ GM ”), as lender.