secwatch.observer — SEC 8-K summary
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Issuer:     ASPEN AEROGELS INC (ASPN)
CIK:        0001145986
Form:       8-K
Filed at:   2024-08-19T23:59:59+00:00
Accession:  0001193125-24-202897
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1145986/000119312524202897/0001193125-24-202897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1145986/000119312524202897/d887175d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-202897

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