{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-051137","form_type":"8-K","ticker":"ASPN","cik":"0001145986","company_name":"ASPEN AEROGELS INC","filed_at":"2023-10-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.346593+00:00","generated_at":"2026-06-10T06:15:21.607102+00:00","sec_items":["1.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Aspen Aerogels amends $500M+ GM loan; extends draw period, maturity, adds covenants","bullets":["Draw period extended to March 31, 2024 from September 30, 2023 (start linked to GM's Plant production date).","Maturity date extended from March 31, 2025 to September 30, 2025.","Added financial covenants: Total Leverage Ratio ≤ 5.00:1.00 and debt/equity ≤ 1.20x, effective Q4 2024.","New condition: Borrower must evidence aggregate equity/debt financing of at least $500M for Plant construction.","Borrowing requires 70% of total Plant cost fully funded before any draw under the Loan Agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-051137","json":"https://secwatch.observer/filing/0000950170-23-051137.json","markdown":"https://secwatch.observer/filing/0000950170-23-051137.md","text":"https://secwatch.observer/filing/0000950170-23-051137.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1145986/000095017023051137/0000950170-23-051137-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1145986/000095017023051137/aspn-20230928.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T06:15:21.607102+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bd6ff642652db0be7fb7e27559d4ab881107dd7d","claim":"ASPEN AEROGELS INC amended Loan Agreement with General Motors Holdings LLC valued at Extended draw period to end on March 31, 2024; extended maturity date to September 30, 2025; added f (effective 2023-09-28).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1145986/000095017023051137/0000950170-23-051137-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"General Motors Holdings LLC"},{"label":"Value","value":"Extended draw period to end on March 31, 2024; extended maturity date to September 30, 2025; added f"},{"label":"Effective","value":"2023-09-28"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}