Aspen Aerogels replaces $124M convertible note with $125M term loan and $100M revolver from MidCap

ASPEN AEROGELS INC

Closed $125M term loan and $100M asset-based revolver with MidCap Financial, maturing August 2029.
Used proceeds to fully redeem $123.9M convertible note (plus PIK interest) from Wood River for $150M cash.
Collateral structure excludes Aspen Georgia's assets, preserving flexibility for Plant II debt financing.
Term loan interest: SOFR+4.50% (floor 4.50%, cap 7.50%); revolver: SOFR+4.60% (floor 2.50%).
Terminated undrawn $100M GM loan agreement; all liens released.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.