Aspen Aerogels, Inc. Announces Proposed Public Offering of Common Stock

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Feb 12, 2020, 16:05 ET

NORTHBOROUGH, Mass., Feb. 12, 2020 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen") today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Aspen also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering solely to cover over-allotments, if any. All of the securities in the proposed offering are to be sold by Aspen.

If the offering is completed, Aspen intends to use the net proceeds from the offering for working capital and general corporate purposes.

Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering.

A shelf registration statement on Form S-3 (File No. 333-227158) relating to the proposed public offering of the shares of common stock described above was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on September 18, 2018. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and made available on the SEC's web site at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed offering may also be obtained by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, by telephone at (612) 334-6300 or by e-mail at [email protected]. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About Aspen Aerogels, Inc.

Aspen is the global leader in aerogel technology. The company's mission is to enable its customers and partners to achieve their own objectives around the global megatrends of resource efficiency and sustainability. Aspen's Cryogel® and Pyrogel® products are valued by the world's largest energy infrastructure companies. Aspen's Spaceloft® products provide building owners with industry-leading energy efficiency including options for a safe, non-combustible fire rating. The company's strategy is to partner with world-class industry leaders to leverage its aerogel technology platform into additional markets. Headquartered in Northborough, Mass., Aspen manufactures its products at its East Providence, R.I. facility.

Special Note Regarding Forward-Looking and Cautionary Statements

This press release and any related discussion contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, the proposed public offering of Aspen's common stock. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual results to differ materially from those projected in its forward-looking statements. Meaningful factors which could cause actual results to differ, including the size, terms and completion of the proposed public offering, market conditions and the expected uses of proceeds from the proposed public offering, as well as other factors, are discussed in the risks and uncertainties detailed from time to time in Aspen's filings with the SEC, including without limitation, the risk factors discussed under the heading "Risk Factors" in Aspen's Annual Report on Form 10-K for the year ended December 31, 2018 and filed with the SEC on March 8, 2019, as well as any updates to those risk factors filed from time to time in Aspen's subsequent periodic and current reports filed with the SEC. All statements contained in this press release are made only as of the date of this press release, and Aspen does not intend to update this information unless required by law.

SOURCE Aspen Aerogels, Inc.