---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-202897"
form_type: "8-K"
ticker: "ASPN"
cik: "0001145986"
company_name: "ASPEN AEROGELS INC"
filed_at: "2024-08-19T23:59:59+00:00"
generated_at: "2026-05-31T08:38:20.713947+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-202897
- form_type: 8-K
- ticker: ASPN
- cik: 0001145986
- company_name: ASPEN AEROGELS INC
- filed_at: 2024-08-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1145986/000119312524202897/0001193125-24-202897-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1145986/000119312524202897/d887175d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-202897
- JSON: https://secwatch.observer/filing/0001193125-24-202897.json
- Plain text: https://secwatch.observer/filing/0001193125-24-202897.txt

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