Aspen Aerogels, Inc. prices IPO
16/06/2014 13:51
Aspen Aerogels, Inc. had priced its initial public offering of 7,500,000 shares of common stock at USD 11 per share for total gross proceeds of USD 82,500,000. In addition, Aspen Aerogels granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price less the underwriting discount. Aspen Aerogels' shares are expected to begin trading on the New York Stock Exchange under the symbol "ASPN." Aspen Aerogels intends to use the net proceeds from this offering to fund additional expenditure for its third production line at its facility in East Providence, R.I., for repayment of amounts outstanding under its revolving line of credit and subordinated notes, and for general corporate purposes, which will include funding a portion of the design, development and construction of its planned second production plant in Europe or Asia after completion of its third production line at its facility in East Providence, R.I. Barclays, J.P. Morgan, and Citigroup were the joint book-running managers of the offering. Baird and Canaccord Genuity were the co-managers of the offering.
16/06/2014 13:51
Aspen Aerogels, Inc. had priced its initial public offering of 7,500,000 shares of common stock at USD 11 per share for total gross proceeds of USD 82,500,000. In addition, Aspen Aerogels granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price less the underwriting discount. Aspen Aerogels' shares are expected to begin trading on the New York Stock Exchange under the symbol "ASPN." Aspen Aerogels intends to use the net proceeds from this offering to fund additional expenditure for its third production line at its facility in East Providence, R.I., for repayment of amounts outstanding under its revolving line of credit and subordinated notes, and for general corporate purposes, which will include funding a portion of the design, development and construction of its planned second production plant in Europe or Asia after completion of its third production line at its facility in East Providence, R.I. Barclays, J.P. Morgan, and Citigroup were the joint book-running managers of the offering. Baird and Canaccord Genuity were the co-managers of the offering.
