---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-300007"
form_type: "8-K"
ticker: "ASPN"
cik: "0001145986"
company_name: "ASPEN AEROGELS INC"
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T09:43:55.752215+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aspen Aerogels raises ~$75M through registered direct offering of 6.06M shares at $12.375/share

## Summary
- Sold 6,060,607 shares to institutional investors including Hood River Capital Management at $12.375/share.
- Gross proceeds of approximately $75 million; net proceeds of ~$74.3 million after expenses.
- Proceeds to fund capital expenditures, working capital, and general corporate purposes for growth in energy industrial and EV thermal barrier segments.
- Offering expected to close on December 22, 2023, subject to customary conditions.

## SEC filing metadata
- accession: 0001193125-23-300007
- form_type: 8-K
- ticker: ASPN
- cik: 0001145986
- company_name: ASPEN AEROGELS INC
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1145986/000119312523300007/0001193125-23-300007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1145986/000119312523300007/d564914d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-300007
- JSON: https://secwatch.observer/filing/0001193125-23-300007.json
- Plain text: https://secwatch.observer/filing/0001193125-23-300007.txt

## Key facts
- Material Agreements
  ASPEN AEROGELS INC entered into Securities Purchase Agreement with certain institutional investors valued at $12.375 per share (effective 2023-12-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional investors
  - Value: $12.375 per share
  - Effective: 2023-12-19
  source text: On December 19, 2023, Aspen Aerogels, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional investors named therein (the “Investors”), pursuant to which the Company agreed to issue and sell, in a registered direct offering by the Company directly to the Investors (the “Offering”) an aggregate of 6,060,607 shares (the “Shares”) of the Company’s common stock, $0.00001 par value per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1145986/000119312523300007/0001193125-23-300007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.