{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-22-294312","form_type":"8-K","ticker":"ASPN","cik":"0001145986","company_name":"ASPEN AEROGELS INC","filed_at":"2022-11-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.753091+00:00","generated_at":"2026-06-21T12:06:14.866377+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Aspen Aerogels secures $100M GM loan for Georgia plant; cuts convertible note conversion price","bullets":["Up to $100M senior secured term loan from GM Holdings for Phase 1 of Bulloch County, GA aerogel plant; interest at Term SOFR + 8% (cash) or +9% (PIK).","First $33M available after KSP equity investment of ≥$100M; remainder subject to milestones and matching equity/debt.","Convertible note conversion price reduced from $34.9366 to $29.9366/share and transfer restrictions removed.","SVB $20M revolver terminated with no outstanding borrowings; $1.2M in letters of credit cash collateralized.","Loan guaranteed by company and Aspen RI, secured by assets excluding IP; Koch convertible notes subordinated."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-22-294312","json":"https://secwatch.observer/filing/0001193125-22-294312.json","markdown":"https://secwatch.observer/filing/0001193125-22-294312.md","text":"https://secwatch.observer/filing/0001193125-22-294312.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1145986/000119312522294312/0001193125-22-294312-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1145986/000119312522294312/d407335d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T12:06:14.866377+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":"7b359a905884fe40660e167910aa320f5a4a18f3","claim":"ASPEN AEROGELS INC incurred term loan of aggregate principal amount of up to $100.0 million with General Motors Holdings LLC at The interest rate on the Loan is equal to the term Secured Overnight Financing R maturing the earlier of (i) March 31, 2025 and (ii) 90 days prior to the maturity date of any other debt facility to which the Loan Parties may be a party (other than an.","evidence_excerpt":"and equipment for the first phase of the Plant (the “ Budget ”). The Loan Agreement provides for a multi-draw senior secured term loan in an aggregate principal amount of up to $100.0 million (the “ Loan ”), available to the Borrower to draw on a delayed draw basis after January 1, 2023 to September 30, 2023, subject to certain conditions precedent to funding. The","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1145986/000119312522294312/0001193125-22-294312-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"aggregate principal amount of up to $100.0 million"},{"label":"Counterparty","value":"General Motors Holdings LLC"},{"label":"Rate","value":"The interest rate on the Loan is equal to the term Secured Overnight Financing R"},{"label":"Maturity","value":"the earlier of (i) March 31, 2025 and (ii) 90 days prior to the maturity date of any other debt facility to which the Loan Parties may be a party (other than an"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}