Aspen Aerogels gets conditional DOE loan up to $670.6M for second plant; Q3 rev $117M

ASPEN AEROGELS INC

DOE conditional commitment for loan of up to $670.6M under Advanced Technology Vehicles Manufacturing program.
Loan would fund remaining CAPEX for Register, GA plant; interest rate = U.S. Treasury Rate at draw.
Register Plant expected to provide $1.2B-$1.6B incremental PyroThin thermal barrier revenue capacity.
Q3 prelim: revenue ~$117M, net loss ~$13M (incl. $27.5M convertible note extinguishment charge), Adj. EBITDA ~$25M.
Cash $113M as of Sep 30, 2024.

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