{"schema_version":"secwatch.filing_event.v1","accession":"0001171843-25-007988","form_type":"8-K","ticker":"ASPN","cik":"0001145986","company_name":"ASPEN AEROGELS INC","filed_at":"2025-12-18T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.892595+00:00","generated_at":"2026-05-16T12:42:30.997792+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Aspen Aerogels amends MidCap credit facility: removes EBITDA covenant, boosts liquidity threshold to 100% of term loan","bullets":["Minimum liquidity threshold raised from greater of $50M and 85% of term loan to greater of $50M and 100%.","Minimum EBITDA financial maintenance covenant removed entirely.","Mandatory prepayment from asset sales reduces amortization in direct order of maturity; acquisition basket reduced.","CFO states liquidity trending ahead of expectations; amendment provides flexibility for 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-25-007988","json":"https://secwatch.observer/filing/0001171843-25-007988.json","markdown":"https://secwatch.observer/filing/0001171843-25-007988.md","text":"https://secwatch.observer/filing/0001171843-25-007988.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1145986/000117184325007988/0001171843-25-007988-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1145986/000117184325007988/f8k_121725.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:42:30.997792+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":"d63af61167bfeae0fef176a11619f4d8078aeab7","claim":"ASPEN AEROGELS INC amended Amendment No. 2 to Credit, Security and Guaranty Agreement with MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer, and the Lenders party thereto (effective 2025-12-16).","evidence_excerpt":"are limited liability company (“ Aspen Mexico ”) and Aspen Aerogels Georgia, LLC, a Georgia limited liability company (“ Aspen Georgia ” and, together with the Company, Aspen RI and Aspen Mexico, collectively, the “ Credit Parties ”) entered into that certain Amendment No. 2 to Credit, Security and Guaranty Agreement (“ Amendment No. 2 ”), by and among the Credit Parties, MidCap Funding IV Trust, as agent (the “ Agent ”), MidCap Financial Trust, as term loan servicer (the “ Term Loan Servicer ”), and the Lenders (as defined below) party thereto, which amends that certain Credit, Security and Guaranty Agreement, dated as of August 19, 2024 (the “ Credit Agreement ” and the facilities provided thereunder, collectively, the “ MidCap Loan Facility ”; the MidCap Loan Facility, as amended by that certain Amendment No.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1145986/000117184325007988/0001171843-25-007988-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer, and the Lenders party thereto"},{"label":"Effective","value":"2025-12-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}